Wema Bank, EIB Global Sign €50M Financing Deal

On June 19, 2026, Wema Bank and EIB Global signed a €50 million financing agreement at Wema Bank's headquarters in Lagos. This agreement is designed to enhance access to credit for small and medium-sized enterprises (SMEs) in Nigeria, with a specific focus on businesses owned by youth and women.

At least 50% of the loans will be allocated to youth-owned enterprises, promoting entrepreneurship and job creation. The agreement aligns with the European Union's Global Gateway program and Nigeria's financial inclusion strategy.

EIB Global will also provide technical assistance to Wema Bank to support its green financing sector program. The initiative aims to strengthen climate-related lending practices and promote sustainable investments.

Ambroise Fayol, EIB Vice President, described the agreement as a significant step toward promoting youth employment and gender equality in Nigeria. Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, emphasized the opportunity to deepen support for underserved segments of the economy through this partnership.