CBN 100 for 100 PPP Loan 2021/2022 Application Form – CBN have announced the commencement of the CBN 100 for PPP loan 2021/2022 for interested and qualified applicants to apply using the application link portal contained in this article. We encourage you to apply for ongoing Central Bank of Nigeria 100 for 100 Policy on Production and Productivity (PPP) loan Application Form.
This initiative is designed to create the flow of finance and investments to enterprises with potential to kickstart a sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports and to improve the FX-generating capacity of the economy.
Objectives of100for100ppp loan Initiative 2021
The broad objective of the initiative is to reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports projects with potential to transform and catalyze the productive base of the economy. The specific objectives include:
i. catalyse import substitution of targeted commodities;
ii. increase local production and productivity;
iii. Increase non-oil exports; and
iv. improve foreign exchange earning capacity of the economy
How CBN N5Billion 100for100 PPP Intervention Loan Works
- Central Bank of Nigeria (CBN) would select 100 private companies who have projects with potential to significantly increase domestic production, reduce imports, increase non-oil exports, and economy growth.
- The system will be rolled over quarterly (every 100 days) and new qualified set of companies selected for financing.
- The initiative is funded from the CBN’s Real Sector Support Facility-Differentiated Cash Reserve Requirement (RSSF-DCRR) window (or any other funding window as may be determined by the central bank of Nigeria.
- The maximum loan amount is N5 billion per obligor. However, any amount above N5 billion shall require special approval from the CBN Management.
- Interests on monthly basis, on the fund shall be amortised and transferred quarterly with principal repayments to the Central Bank of Nigeria. Meanwhile, the interest rate under the intervention shall not be more than 5.0% p.a. (all-inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all-inclusive) effective from 1st March 2022.
- The Central Bank would monitor the progress of the company.
- The Central Bank of Nigeria (CBN) would set up comprehensive, regular monitoring of specific benchmarks and key performance indicators (KPIs) for selected companies.
How to apply/register for 100for100 PPP Loan Application 2021/2022
To apply online, visit the CBN 100 for 100 PPP application portal at https://100for100ppp.ng
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