First City Monument Bank’s (FCMB), has started partnership with Mercy Corps, a frontline international aid organisation to support over 500,000 farmers and vulnerable people in Nigeria’s North-East zone to access farming friendly and demand-driven financial services
The partnership, a bold and landmark intervention, supported by USAID-funded Feed the Future Nigeria Rural Resilience Activity, will deliver funding and capacity-building support to smallholder farmers and vulnerable people living in the conflict-affected states of Adamawa, Borno, Gombe and Yobe.
The Feed the Future Nigeria Rural Resilience Activity aims to facilitate and promote economic recovery and growth in the vulnerable, conflict-affected areas and sustainably move people out of chronic vulnerability and poverty through expanded opportunities.
Mrs Yemisi Edun, the Managing Director of FCMB, while speaking during the MoU signing ceremony on August 25, 2021, in Lagos, expressed appreciation to Mercy Corps and other partners for confidence in the Bank’s capability to drive the initiative successfully.
According to her, “We are delighted to play another crucial role in developing our local communities and society at large.
“This partnership will significantly improve the living standards of farmers and other vulnerable people by boosting food sufficiency and reducing poverty. It will also de-escalate insecurity in the North-East.
“All of these align with FCMB’s commitment to creating opportunities for individuals and businesses to attain their growth potential.”
Mr Ndubisi Anyanwu, the Country Director of Mercy Corps Nigeria, also speaking, said: “We are extremely proud to be supporting initiatives that drive recovery and increase investment in North-East Nigeria. Mercy Corps has been working in the nexus as an Agency, implementing several programs that aim to sustainably transition people in conflict-affected areas out of humanitarian assistance to recovery through development”.
Mrs Margarita Aswani , the Chief of Party, Feed the Future Nigeria Rural Resilience Activity, said: “We are delighted that this partnership will enable FCMB to adapt its loan products and offerings to fit the context in North-East Nigeria.
“ It will empower farmers, small ruminant producers, and microenterprise owners to grow their businesses and increase yields. The Activity, proudly aims to facilitate access to national and international technical expertise to support FCMB’s strategies for expanding to new and emerging agricultural markets in North-East Nigeria.”