Micro, Small and Medium Enterprises Development Fund (MSMEDF) Guidelines
Guideline · Finance
Guidelines manage the MSME Development Fund, which provides affordable credit to small businesses through financial institutions. They target microfinance banks and small enterprises. This promotes the growth of MSMEs in Nigeria.
Micro, Small and Medium Enterprises Development Fund (MSMEDF) Guidelines
What Is This Policy?
Guidelines governing the CBN's MSME Development Fund, a wholesale fund that provides affordable credit to micro, small, and medium enterprises through participating financial institutions.
Who Does It Target?
Microfinance banks and development finance institutions Small and medium enterprises seeking affordable credit CBN Development Finance Department State-level MSME support agencies
What Does It Aim to Achieve?
Promote the growth and sustainability of MSMEs in Nigeria by channeling affordable credit through financial intermediaries, reducing the funding gap that constrains small business development.
Key Features
Wholesale Lending: CBN lends to participating financial institutions at concessionary rates for on-lending to MSMEs Eligibility: MSMEs with valid business registration and viable business plans Interest Rate: Maximum interest rate cap for loans disbursed to end borrowers Sectors: All productive sectors including agriculture, manufacturing, services, and trade Women and Youth: Ring-fenced portions for women-owned and youth-owned enterprises
Current Status
Rollout Stage: Active Coverage: Nationwide through participating financial institutions Lead Agency: CBN Development Finance Department
How to Access
MSMEs access the fund through participating financial institutions. Apply through a participating microfinance bank or development finance institution Provide business registration and a viable business plan Meet the lending criteria set by the participating institution
Official Resources
Website: cbn.gov.ng Contact: CBN Development Finance Department, Abuja
Legal Framework
Issued under the Central Bank of Nigeria Act 2007, which empowers the CBN to provide development finance facilities. Operates alongside the Banks and Other Financial Institutions Act 2020, the Microfinance Policy Regulatory and Supervisory Framework, the Small and Medium Enterprises Development Agency of Nigeria Act, and the National MSME Policy.