In realization of the important role of MSMEs in economic growth, poverty eradication, and employment creation, the CBN introduced youth-focused policies and programmes with the objective of addressing underemployment and unemployment among young Nigerians to create a paradigm shift from seeking white-collar jobs towards entrepreneurship development.
The interventions are designed to channel low-cost financing to nascent women and youth entrepreneurs, to enable them engage in productive activities that support growth. The Bank’s key intervention programmes and schemes in the MSMEs segment include Micro, Small and Medium Enterprises Development Fund (MSMEDF), Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS), Creative Industry Financing Initiative (CIFI), Targeted Credit Facility (TCF), Nigeria Youth Investment Fund (NYIF), Youth Entrepreneurship Development Programme (YEDP), and Tertiary Institutions Entrepreneurship Scheme (TIES).
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