Access Bank PLC is set to release loans through the Central Bank of Nigeria (CBN) credit support scheme to speed up the capacity of Nigeria’s pharmaceutical and healthcare industries. This has become necessary as the country continues to tackle the evolving crisis of the Covid-19 pandemic.

The Bank is reaffirming a stance on fostering sustainable development across the country. The loan scheme is part of a six-point palliative by the Central Bank of Nigeria (CBN), of which Access Bank is a participating financial institute (PFI).

It was developed to provide funding to indigenous pharmaceutical companies and other organizations in the healthcare value chain, enabling them to increase capacity to meet the increasing demand for healthcare arising from the pandemic.

Earlier in the month, Access Bank’s Group Managing Director, Herbert Wigwe, had reassured the public of the Bank’s commitment to do everything in its power to address the needs of the Nation in these uncertain times.

“It has become clear to all and sundry that Nigeria’s healthcare sector is in dire need of revitalization and Access Bank, under the auspices of the Central Bank of Nigeria, will be investing heavily in this sector in the coming months. We would be looking to grow Nigeria’s capacity to not only manufacture drugs and other medical supplies locally but also encourage entrepreneurs to take advantage of the opportunities that lie within the sector,” Wigwe said.