EU financiers launch €20m Nigeria window, pledge more support
By Aboki Forex —
European development finance institutions have opened a fresh €20 million Nigeria Country Window. The new facility aims to support infrastructure, agriculture, healthcare, renewable energy, and small businesses.
The announcement came on Tuesday in Abuja from the EU Delegation to Nigeria and ECOWAS. It followed the 10th Nigeria–European Union Business Forum.
European financiers said the new commitments show growing confidence in Nigeria’s economic reforms and long-term growth.
The European Investment Bank disclosed it signed over €500 million in financing for Nigeria in the past year. The money covers public and private sector operations. More investments are expected before the year ends.
Loic Le Ruyet, Senior Investment Officer at the European Investment Bank, said the bank’s portfolio includes sustainable transport, healthcare manufacturing, agriculture, renewable energy, digital infrastructure, and support for small and medium-sized enterprises.
“We have signed last year over €500 million of financing in the country, in the public sector and in the financial sector mostly,” Le Ruyet said. “There is more coming this year.”
He said the funding covers Lagos waterways transport, the Development Bank of Nigeria for priority sector lending, healthcare manufacturing through the Bank of Industry, and agricultural value chains in cocoa and dairy.
The forum also launched a €20 million Nigeria Country Window. It is jointly run by FMO, the Dutch entrepreneurial development bank, and the European Development Finance Institutions Management Company. The window operates under the EU’s Agrifi and Electrifi blended finance programmes.
The facility will channel financing to small and medium-sized enterprises in agribusiness and rural electrification. It also aims to mobilise more private capital into Nigeria.
Edilberto Jose Baquero of FMO said the structure targets two critical development constraints. “It is important to recognise that in Nigeria agriculture is a key driver of the economy, and access to energy remains a challenge, specifically in rural communities,” he said. “Bringing together these two facilities creates an opportunity to support more integrated and sustainable investment that aligns with the needs and priorities of Nigeria.”