The European Investment Bank’s development arm, EIB Global, and the Development Bank of Nigeria (DBN) have signed a landmark €200 million credit facility at the DBN office in Lagos. The massive capital injection is explicitly structured to bridge long-standing financing gaps by providing affordable, long-term credit lines to local micro, small, and medium-sized enterprises (MSMEs), alongside mid-sized companies. By routing the funds through a network of domestic financial intermediaries, the partnership targets small-scale commercial investments in high-impact economic sectors, including clean energy, climate-smart agribusiness, digitalization, and technological innovation.
EIB Vice-President Ambroise Fayolle highlighted that the initiative serves as a powerful practical driver for the European Union’s broader Global Gateway Initiative, aiming to boost private sector competitiveness, transparency, and operational resilience. A significant portion of the credit facility will prioritize green projects and women-led enterprises to ensure inclusive local growth. DBN Managing Director Dr. Tony Okpanachi hailed the agreement as a significant milestone, noting that it directly aligns with the bank’s strategic vision to scale back carbon emissions, expand food security, and accelerate Nigeria’s transition toward an interconnected, innovation-driven digital economy.
