{
  "id": 8157557,
  "title": "Cardoso Explains Shift from Direct Development-finance Interventions to Stronger Credit System to Agriculture, Others",
  "url": "https://urgent.news/2026/09/18/cardoso-explains-shift-from-direct-development-finance-interventions",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T02:48:25.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/09/18/cardoso-explains-shift-from-direct-development-finance-interventions-to-stronger-credit-system-to-agriculture-others/"
  },
  "original_language": "en",
  "account": "Ononugbo emphasized the importance of credit in raising productivity, incomes, and job creation. The GIZ AgFin project has provided €53.9 million (N61 billion) in financing to smallholder farmers, with a 90% repayment rate and 150,300 transactions. Ruediger stated that smallholder lending proved successful over an eight-year period. Badmus urged banks to view farmers as viable businesses.\n\nCBN Governor Olayemi Cardoso announced a shift from direct development-finance interventions to building stronger institutions and systems capable of delivering credit sustainably to agriculture and other productive sectors. At the GP AgFin National Close-out Conference, Cardoso highlighted that the focus was no longer on deploying money into specific projects, but on strengthening institutions, improving coordination, and creating systems that continue generating value after individual development programmes end.\n\nRepresented by CBN Director, Development Finance Advisory Department, Dr. Paul Oluikpe, Cardoso said, \"We believe that building resilient systems is more important than simply providing funding for specific projects.\" The CBN has \"pivoted away\" from its heavy footprint in development finance, opting to use its convening power and advisory capacity to bring stakeholders together. The project collaborated with the Bank of Industry (BoI) and other relevant agencies, as well as state governments to deepen development finance delivery.\n\nThe €53.9 million (N61 billion) funded project facilitated financing to smallholder farmers through partner financial institutions. CBN urged stakeholders to incorporate the GP AgFin's lessons and practices into existing systems for long-term sustainability. The eight-year project reported significant growth in agricultural finance access, with over 101,449 farmers and agribusinesses accessing tailored financial products and services, generating 150,300 financial transactions. 22 new agricultural financial products were developed and integrated into partner institutions' portfolios, while 19 incorporated digital delivery. Microfinance banks recorded repayment rates above 90%. The project targeted maize, rice, cassava, Irish potato, poultry, and aquaculture value chains across 10 states.",
  "summary": "• Ononugbo: credit must raise productivity, incomes, jobs •GIZ AgFin project unlocks d €53.9 million to smallholder farmers, project records 150,300 transactions, 90% repayment rate •8-year project proves smallholder lending",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}