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Development financing

Development financing is one of the requirements for sustainable economic growth in any economy. The supply of finance to various sectors of the economy will promote the growth of the economy in a holistic manner and this, will make development, welfare improvement to proceed at a faster rate. The Central Bank of Nigeria development finance initiatives involve the formulation and implementation of various policies, innovation of appropriate products and creation of enabling environment for financial institutions to deliver services in an effective, efficient and sustainable manner. The initiatives are mainly targeted at agricultural sector, rural development and micro, small and medium enterprises.

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Facts : 1/1/1900
International Monetary Fund:The International Monetary Fund was established in 1945 to promote the health of the world economy with 29 countries sigining the Articles of Agreement. Nigeria joined the IMF in 1961,which now has 184 members with its headquarters in Washington D.C., USA.
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