In this regard, the CBN has taken the lead in the financing of the real sector and infrastructure projects, and enhancing credit to the real sector. A N500.0 billion fund was established out of which N300 billion is for power/infrastructure and aviation sectors and N200.0 billion for the refinancing/restructuring of banks’ existing loan portfolios to manufacturers/SMEs.
The Federal Reserve and the Department of the Treasury have modified the program several times to reflect extensive consultations with stakeholders, most recently by lowering the minimum loan threshold and adjusting fees to make the program more accessible.