EU Financiers Launch €20M Facility for Nigeria's Growth

The European Development Finance Institution (EDFI) has expanded its investment portfolio in Nigeria by unveiling a new €20 million facility aimed at supporting infrastructure, agriculture, healthcare, renewable energy, and small businesses. This announcement was made during the 10th Nigeria-European Union Business Forum in Abuja.

The European Investment Bank disclosed that it signed a financing agreement of €500 million for Nigeria in the past year, focusing on public and private sector operations. Loic Le Ruyet, a senior investment officer at the European Investment Bank, indicated that the bank's portfolio includes sustainable transport, healthcare, manufacturing, agriculture, renewable energy, and digital infrastructure.

The new facility will be jointly implemented with FMO, the Dutch entrepreneurial development bank, and aims to mobilize private capital to address critical development priorities in Nigeria. Dori Uzoka Anit, Minister of State for Budget and Economic Planning, expressed confidence in Nigeria's reform agenda, which aligns with the nation's development plan for 2026-2030.