Sustainable Economic Development Programme / Unit 1 “Financial Sector Reform” and Unit 2 “Reform of Institutional and Legal Framework” Phases I+II

The regulative and institutional framework for SMME in Nigeria especially the access to financial services is still insufficient. The Nigerian development strategy VISION 2020 aims to especially support the private sector as motor of economic development whereas the reform of the financial system should improve reform progress.

The sustainable Economic development Programme aims at improving the framework for business and investment activities of SMME and their access to resources and markets.

With regard to Unit 1: Financial sector reform, AFC supported financial services in selected federal states, through consultancy, training and coaching of selected micro finance banks (MFB), among others, in management and development of financial products (value chain finance) to improve their operational efficiency and contribute to an increase in the saving and loan portfolios.

As to Unit 2 Reform of institutional and legal framework, AFC provided services to improve the regulatory and institutional environment for SMME on local, state and federal level. Services included consultancy and and training of local governments, public private dialogue measures, support of the foundation and strengthening of Business Development Committees (BDCs) and PPD approaches.