The European Investment Bank’s development arm EIB Global has signed a €200 million loan agreement with the Development Bank of Nigeria to finance small and medium enterprise investment in Nigeria’s green and digital economy, with the facility designed to support renewable energy businesses, agribusiness, digital transformation, and women entrepreneurs while easing access to suitable finance for MSMEs and mid-sized companies.
EIB Vice-President Ambroise Fayolle, who was present at the signing in Lagos, said the partnership would strengthen the competitiveness of Nigeria’s private sector, support inclusive growth by directing financing toward underserved communities and women-owned enterprises, and contribute to climate resilience by expanding access to clean energy and supporting the country’s transition away from high-emission energy sources.
DBN Managing Director Tony Okpanachi said the investment was a significant milestone in driving Nigeria’s economic growth and sustainability, saying it would help local financial institutions support MSMEs in agriculture, renewable energy, digitalization, and innovation in ways that created jobs, improved livelihoods, and accelerated Nigeria’s transition to a sustainable, digitally enabled economy.
EIB said it had invested approximately €2.3 billion in Nigeria since beginning operations in the country in 1978, covering sustainable urban transport, climate adaptation, innovation and digitalization, agribusiness logistics, and SME financing.
