October 14, 2025
The European Union’ development cooperation with Nigeria has been empowered with EUR 190 million (N320.5 billion) credit line given to Nigerian commercial banks and financial institutions to broaden loans to the agricultural sector.
The facility, provided by the European Investment Bank, was announced on the sidelines of the recently concluded Global Gateway Forum in Brussels, Belgium attended by the bank’s senior executives and a delegation from the Nigeria’s Ministry of Budget and Economic Planning.
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The bank’s Director (International Partnerships), Ms Thourayya Tricki, said the credit facility was part of the EU’s commitment to the development of Nigeria’s agricultural value chains, particularly in cocoa and dairy while acknowledging the EU’s commitment to support Nigeria’s ambitions and initiatives for digital transformation, given its potential to catalyse growth in other sectors of the economy.
Nigerian team also engaged in a series of high-level sessions and conducted bilateral meetings with key EU institutions, including officials from the Directorate of International Partnerships, INTPA, and the European Bank for Reconstruction and Development, EBRD.
