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Stanbic IBTC, IE Business School Collaborate On Education Loan Finance |

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Stanbic IBTC Bank said, it has concluded plans with IE Business School to finance loan agreement to help people acquire the relevant skills in entrepreneurship and business.

The parties signed the Memorandum of Understanding (MoU) in Lagos to kick-start the partnership in which the lender will provide loan facilities for students enrolled in IE’s Master in Business Administration (MBA) programmes.

The collaboration which will be operative for an initial period of one year from May 2015 and renewable for another year, covers financing for IE’s MBA and executive MBA programmes. Stanbic IBTC Bank will finance a part or the total cost of the programmes which IE offers to qualified candidates who have been accepted to the programme. The financing will come in the form of an Unsecured Personal Loan (UPL).

Speaking at the event, executive director, Personal and Business Banking, Stanbic IBTC Bank, Obinnia Abajue, said the partnership fits into the institution’s goal of fostering economic empowerment through strategic interventions that enable individuals and businesses realise their aspirations.

He noted that it was the pursuit of this objective that informed the creation of the Stanbic IBTC Business Leadership Series, which made its debut last year, to build a new cadre of leaders among people and businesses in Nigeria.

“Similar capacity- building initiatives spanning various sectors of the economy, including MSME, transport and logistics, trade and finance have also been organised by the Stanbic IBTC Group on an ongoing basis to support individuals and businesses,” Obinnia stated.

“The partnership with IE opens another window of opportunity to empower people for self-development and actualisation.

It is in sync with our operating mantra, which is moving forward. At Stanbic IBTC Bank, we are mindful of the fact that socio-economic growth and development are anchored on sound education and robust infrastructural base. This conviction underscores our strategic interventions in critical sectors of the economy, including education,” he said.

On his part, IE’s vice chairman, Diego Del Alcazar Benjumea, who noted that the institution is dedicated to building business leaders worldwide, stated that Stanbic IBTC Bank was chosen for the partnership after a thorough appraisal revealed its uncommon commitment to multi-sectoral capacity-building and economic empowerment.


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