EIB and DBN Partner for €200 Million Investment in Nigeria's Green and Digital Economy

The European Investment Bank Group, through its development arm EIB Global, and the Development Bank of Nigeria (DBN) have launched a significant €200 million financial partnership. This collaboration is designed to stimulate small-scale investments within Nigerian enterprises, focusing on contributions to the nation's burgeoning green and digital economies.

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This partnership with the Development Bank of Nigeria 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. This is a powerful example of EIB’s real impact on the ground.

The agreement, signed at the DBN Lagos Office, was witnessed by EIB Vice-President Ambroise Fayolle. The investment program is set to enhance private sector development across Nigeria by supporting enterprises engaged in green and digital initiatives. EIB Vice-President Fayolle highlighted that the financing will bolster Nigeria's green transition by expanding opportunities for companies in renewable energy and agribusiness. In agriculture, the initiative aims to improve productivity, develop local supply chains, and strengthen food security for Africa's most populous nation. For the energy sector, the loan will support renewable energy businesses, improve access to clean energy, reduce carbon emissions, and build climate resilience in underserved communities.

Fayolle stated, "This partnership with the Development Bank of Nigeria 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. This is a powerful example of EIB’s real impact on the ground."

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The €200 million investment from EIB Global is a significant milestone in our mission to drive Nigeria’s economic growth and sustainability. By supporting local financial institutions and MSMEs in key sectors like agriculture, renewable energy, digitalisation, and innovation, we’re empowering entrepreneurs and fostering a culture of sustainable innovation.

DBN Managing Director/CEO, Dr. Tony Okpanachi, welcomed the investment, calling it a pivotal moment in driving Nigeria's economic growth and sustainability. "The €200 million investment from EIB Global is a significant milestone in our mission to drive Nigeria’s economic growth and sustainability," Okpanachi affirmed. "By supporting local financial institutions and MSMEs in key sectors like agriculture, renewable energy, digitalisation, and innovation, we’re empowering entrepreneurs and fostering a culture of sustainable innovation." He further emphasized that the partnership aligns with DBN's vision to accelerate Nigeria's transition to a sustainable, innovation-driven, and digitally enabled economy, thereby creating jobs and improving livelihoods.

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This partnership underscores DBN’s commitment to accelerating Nigeria’s transition to a sustainable, innovation-driven and digitally enabled economy, creating jobs, and improving livelihoods. It aligns with DBN’s vision to support green growth and digital transformation.