Grooming II (IFC-37832)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 31, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GROOMING PEOPLE FOR BETTER LIVELIHOOD CENTRE
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 4.76 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 7.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 18, 2017

Disclosed by Bank Feb 10, 2016


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Project Description
The proposed project will support Grooming People for Better Livelihood Centre, a microfinance institution targeting micro entrepreneurs. More than 90% of clients are female borrowers that run small-scale trading and production businesses. The project will allow Grooming to fund its expansion of active borrowers (all of which are microenterprises) across Nigeria significantly by the end of 2019.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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