Fashion industry will see a boast as the Bank of Industry, BoI,is ready to increase its N1billion Fashion Fund if it receives requests with viable proposals.
The financing will be in collaboration with other development banks, including Africa Development Bank.
Acting managing director of the bank, WaheedOlagunju, made this disclosure in Abuja at a Master Class Session with the Mercedes Gonzalez, a USA-based international fashion strategy expert, organised for Nigerian fashion designers.
According to him, the fashion fund which was launched in 2015, has nine per cent interest rate with six months to 12 months’ suspension period, as well as three years to five years loan tenure.
The BoI boss said the training with Gonzalez, who is also the managing director of Global Purchasing Companies, would help to connect Nigerian designers to the international market.
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