Nigeria Secures €200M EIB Loan for Green Growth

The European Investment Bank (EIB) and the Development Bank of Nigeria (DBN) announced a €200 million financing partnership aimed at boosting investments in Nigeria's green economy and digital transformation. The agreement, signed at DBN's Lagos office, was attended by EIB Vice President Mr. Ambroise Fayol.

This investment will support small-scale enterprises, enhance job creation, and improve access to suitable financing for micro, small, and medium enterprises (MSMEs) and mid-cap companies. The partnership is expected to strengthen Nigeria's green transition, expand financing opportunities in renewable energy and agriculture, and improve local supply chains, thereby enhancing food security.

The loan will also facilitate clean energy access and reduce carbon emissions. Dr. Toni Okpanachi, Managing Director and CEO of DBN, welcomed the investment as a significant milestone in driving Nigeria's economic growth sustainably.

The EIB has invested nearly €2.3 billion in Nigeria since 1978, focusing on sustainable urban transport, climate adaptation, and digital innovation.