{"id":490260,"date":"2026-04-24T11:06:28","date_gmt":"2026-04-24T11:06:28","guid":{"rendered":"https:\/\/www.financialafrik.com\/en\/2026\/04\/24\/nigeria-badea-grants-40-million-euros-to-the-development-bank-of-nigeria\/"},"modified":"2026-04-24T11:06:39","modified_gmt":"2026-04-24T11:06:39","slug":"nigeria-badea-grants-40-million-euros-to-the-development-bank-of-nigeria","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2026\/04\/24\/nigeria-badea-grants-40-million-euros-to-the-development-bank-of-nigeria\/","title":{"rendered":"Nigeria: BADEA grants 40 million euros to the Development Bank of Nigeria"},"content":{"rendered":"
<\/div>

The Arab Bank for Economic Development in Africa has signed a 40 million euros (60 billion naira) credit facility with the Development Bank of Nigeria (DBN) to strengthen access to long-term financing for small and medium enterprises in Nigeria.<\/p>\n

The agreement, reached on the sidelines of the IMF and World Bank Spring Meetings held from April 13 to 19, 2026 in Washington, aims to address the financing gap for SMEs, estimated at nearly 13 trillion naira (7.6 billion euros) in Africa’s largest economy.<\/p>\n

The funds will be channeled through local financial institutions to finance key sectors, including agriculture, industry, health, and technology.<\/p>\n

For authorities, this initiative is expected to stimulate job creation and support economic diversification, as SMEs account for over 90% of the country’s businesses but are hindered by limited access to credit, particularly due to high interest rates.<\/p>\n

According to DBN’s Managing Director, Tony Okpanachi, this line of credit will enhance the institution’s capacity to finance local businesses and support long-term growth.<\/p>\n

This operation is part of BADEA’s strategy to promote private sector development and strengthen economic cooperation between Arab and African countries, as Nigeria seeks to increase non-oil exports and support its entrepreneurial fabric.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

The Arab Bank for Economic Development in Africa has signed a 40 million euros (60 billion naira) credit facility with the Development Bank of Nigeria (DBN) to strengthen access to long-term financing for small and medium enterprises in Nigeria. The agreement, reached on the sidelines of the IMF and World Bank Spring Meetings held from<\/p>\n","protected":false},"author":527297,"featured_media":490261,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12040,12046],"tags":[],"class_list":["post-490260","post","type-post","status-publish","format-standard","has-post-thumbnail","category-international-institutions","category-leaders-en","pmpro-has-access"],"yoast_head":"\nNigeria: BADEA grants 40 million euros to the Development Bank of Nigeria - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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