The Women and Youth Export Facility (WAYEF) is designed to support Women and Youth in the non-oil exports value-chain.
The intention of the WAYEF is to stimulate and increase deliberate funding to Women and Youth (between the ages of 18 to 35 years) towards broadening Nigeria’s export basket and facilitating regional industrialization for value added exports.
Objectives of the Facility
The objectives of the Facility are to:
- Improve access of Women and Youth exporters to concessionary finance in a bid to expand and diversify the non-oil export baskets.
- Revamp/ resuscitate small and medium enterprises that are export-oriented to create / sustain more jobs for Women and Youth within the non-oil export sector in Nigeria.
- Support Women and Youth to upscale and expand export operational capacities and upgrade production systems.
- Diversify and increase the level of contribution of non-oil export revenue and value-added exports for sustainable economic development.
- Broaden the scope of export financing instruments and to complement other non-oil export financing schemes.
- Duly registered/incorporated Export Oriented Small and Medium Enterprises in Nigeria with Women or Youth as Promoters. .
- Structured Non-Governmental Organizations with the mandate to empower Women or Youth in business development.
- Registered Co-operative societies for Women or Youth.
- Trade Associations for Women or Youth.
- Projects or Transactions in the non-oil export sectors that impact Women and Youth employment.
- Projects with deliberate focus on Women and Youth empowerment programs in the export value chain.
- Transactions connected with export of goods wholly or partly processed/ manufactured in Nigeria.
Features of WAYEF
a. The Facility shall not be more than 80 percent of the total Project/Transaction cost
b. The Facility shall have a single obligor limit of not more than N50.0 Million.
The Women and Youth Export Facility (WAYEF) shall have a maximum tenor of up to one (1) year.
The under-listed are acceptable Repayment Terms for the Women and Youth Export Facility (WAYEF):
- Clean-Up Cycle of 30 Days for Principal and Interest
- Clean-Up Cycle of 60 Days for Principal and Interest
- Clean-Up Cycle of 90 Days for Principal and Interest
- Clean-Up Cycle of 120 Days for Principal and Interest
- Clean-Up Cycle of 180 Days for Principal and Interest
- Quarterly payment of Interest and repayment of Principal
- Quarterly payment of Interest and Bullet repayment of Principal