LAGOS — The European Investment Bank (EIB) Group’s development arm, EIB Global, has announced a €200 million financial partnership with the Development Bank of Nigeria (DBN) to accelerate private sector development. The agreement, signed on Thursday, June 18, 2026, at the DBN headquarters in Lagos, aims to bridge the financing gap for Nigerian micro, small, and medium-sized enterprises (MSMEs).
Strategic Focus on Sustainability
The investment is designed to channel capital into high-impact sectors, specifically agriculture, renewable energy, and digital innovation. By easing access to credit for entrepreneurs and mid-cap companies, the partnership seeks to foster sustainable job creation and strengthen the nation's economic resilience.
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Green Transition: A core component of the deal is expanding financing for renewable energy businesses to reduce carbon emissions and build climate resilience.
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Agribusiness: The funds will support productivity improvements in the agricultural sector, aiming to strengthen local supply chains and enhance food security for Nigeria’s rapidly growing population.
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Digitalization: The program prioritizes digital transformation, empowering enterprises to leverage technology to scale their operations and increase competitiveness.
Boosting Economic Growth
Ambroise Fayolle, EIB Vice-President, highlighted the importance of the initiative: "This partnership will strengthen the competitiveness of Nigeria’s private sector, especially for SMEs in the green and digital sector. In supporting green projects and women entrepreneurs, we are also fostering inclusive growth and climate action."
Dr. Tony Okpanachi, Managing Director and CEO of the Development Bank of Nigeria, noted that the investment represents a significant milestone in the DBN's mission. "By supporting local financial institutions and MSMEs in key sectors like agriculture and innovation, we are empowering entrepreneurs and fostering a culture of sustainable growth," Okpanachi stated.
A Legacy of Investment
This agreement is part of the broader EU "Global Gateway" initiative, which supports sustainable, inclusive, and resilient growth across Africa. The EIB has been an active financing partner in Nigeria since 1978, with total investments in the country now reaching approximately €2.3 billion. These funds have historically supported transformative projects across sustainable urban transport, climate adaptation, and private sector development.
Through this latest collaboration, the EIB and DBN aim to continue the trend of high-impact investing, ensuring that smaller Nigerian enterprises have the necessary tools to navigate the digital and green economy transitions.
