Nigeria - Development Bank of Nigeria Plc Project

Project Summary

Approval Date 15 Dec 2014
Signature Date 13 Mar 2015
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 336,548,296.92
Status Completion

Project General Description

The extension of long-term funding in a combination of sovereign loans and equity for an amount of up to USD 500 million from the African Development Bank Group for the new DFI being established in partnership between the FGN and international DFIs such as the AfDB Group, the World Bank, KfW, DFID and AFD. The Development Bank of Nigeria (DBN) will utilize the bulk of the mobilized funds for on-lending to MSMEs operating in various sectors of the Nigerian economy through eligible participating financial institutions while a portion (20% of the AfDB Group funding) will be used to benefit small and medium-sized corporates through PFIs as well. The Development Bank of Nigeria (DBN) will also provide risk-sharing facilities and technical assistance to the PFIs to better serve the targeted beneficiary enterprises.

Project Objectives

The project will contribute to mobilizing significant financial resources for banks and non-bank financial intermediaries, ultimately increasing MSMEs’ access to finance, increasing their productive capacity in the country and stimulating growth in various sectors of the economy. This will increase economic output, improve the country’s competitiveness, generate government and export revenues and create employment opportunities. The proposed intervention will also underpin national poverty reduction efforts as well as facilitate national development.


The direct beneficiaries of the intervention are Development Bank of Nigeria (DBN), the Federal Government of Nigeria, as well as MSMEs.

Participating Organization

African Development Bank
African Development Fund


IATI identifier 46002-P-NG-HAA-004
Last Update 01 Feb 2023


Contact Details


Geographic Location

Country Nigeria
Coordinates Location Name
9.05735 7.48976 Abuja