FirstBank has announced that its FirstEdu product designed to put schools at an advantage in financing of capital projects such as the acquisition of new property, school expansion and reconstruction has been remodeled to a period of up to a maximum tenor of 48 months.
Expressing his delight at the impact of the product, The Group Executive e-Business and Retail Products, Mr Chuma Ezirim, said; “we are happy with the positive response that our FirstEdu product is eliciting across the country. This is not only a demonstration of the great experience witnessed in the schools, but also the impact it has made across the value chain of the educational sector which contributes significantly to the socio-economic development of the country. Education is the bedrock of any society; and the future belongs to those who built this bedrock today. We remain committed to supporting the educational sector as part of our nation-building strategy.’’
“Since its launch in 2018, the FirstEdu loan has promoted the continued improvement of schools whilst putting them at an advantage in meeting their mid and long-term goals. These goals include the expansion of the school through the acquisition of landed properties, purchase of school bus, modern educational facilities, tools and equipment to optimize the day-to-day operations of the school. Renewable energy loan for schools has also been added to enable them control and reduce the high cost of fuel while powering their school facilities as well as minimize their environmental impacts, “he said.
