Page 10 - INSIDE ACCESS AUGUST 21-3RD EDITION

AGRIC BUSINESS
Export Facilitation Initiative (EFI)
EFI was approved to compliment efforts to engender growth in the non-oil sector of the economy. The target commodities include cocoa, oil palm, cashew, shea and sesame seeds.
Features:
· Single Obligor Limit: N10billion
· Maximum Interest Rate: 5% per annum, inclusive of all charges (till February 2022). Interest rate
reverts to maximum 9% p.a. thereafter
· Tenor: Depends on the gestation period of the project being financed
· Repayment: Flexible; monthly, quarterly etc. depending on confirmed business cash flows and/or
transaction dynamics
· Moratorium: Period allowed will depend on confirmed business cash flows and/or transaction
dynamics up to 3 years
· Collateral: Required in line with Bank's policy
More information: AgricBusinessGroup@accessbankplc.com