Average capacity utilization of projects financed by CACS increased from 45 per cent in 2009 to about 75 per cent as at June 2013. 9. Your Excellences, distinguished Ladies and Gentlemen, in addition to the above, the CBN is presenting for launch today the N220Billion Micro, Small and Medium Enterprises Development Fund (MSMEDF).
The Fund is designed to further enhance access to finance by MSMEs with the following major objectives: (i) Provide wholesale financing windows for participating financial institutions (PFIs); (ii) Improve the capacity of the PFIs to meet credit needs of MSMEs; (iii) Provide funds at reduced cost to PFIs; (iv) Enhance access of women entrepreneurs to finance by allocating 60 per cent of the Fund to them; and (v) Improve access of NGOs/MFIs to finance.