EdFin Microfinance Bank has said it is partnering with the Lagos State Employment Trust Fund to provide a single-digit interest rate loan worth N5bn to over 2,000 private schools and individuals looking to fund their education in Lagos State.
It said the N5bn intervention fund was part of Lagos State government’s initiative to help schools recover from the shocks and losses from COVID-19.
The bank said this in a statement entitled ‘EdFin MfB and Lagos State Employment Trust Fund collaborate to provide N5bn in matching funding to schools and students in Lagos State.’
It said depending on the capacity, each school would have the opportunity to access up to N5m payable over 30 months at nine per cent per annum. Read more