Release date: 12 June 2023
Promoter – Financial Intermediary
DEVELOPMENT BANK OF NIGERIA PLCLocation
Description
The project consists of a loan to the Federal Government of Nigeria to support investments in the green, agri and digital sectors through the Development Bank of Nigeria (DBN).
Objectives
The aim is to improve access to medium and long-term finance for Nigerian small and medium sized enterprises (SMEs) carrying out projects in the sectors above through local banks and microfinance institutions. A special focus on underserved groups such as female entrepreneurs and youth.
Sector(s)
- Services - Financial and insurance activities
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
not applicable
Environmental aspects
The EIB will require from DBN to take all the requisite measures to ensure that the sub-projects carried out by the final beneficiaries receiving Bank financing will comply with national legislation and the ElB's Environmental and Social Standards.
Procurement
The EIB will require DBN to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.
Status
Under appraisal - 12/04/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).