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Signature(s)

Amount
€ 50,000,000
Countries
Sector(s)
Nigeria : € 50,000,000
Credit lines : € 50,000,000
Signature date(s)
7/09/2023 : € 50,000,000

Summary sheet

Release date
8 February 2023
Status
Reference
Signed | 07/09/2023
20220525
Project name
Promoter - financial intermediary
ACCESS BANK PLC NIGERIA GENDER LOAN FOR SMES
ACCESS BANK PLC
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million
not applicable
Location
Sector(s)
Description
Objectives

This EIB financing to Access Bank Plc aims to enhance access to loan finance to private sector entities in Nigeria, mostly small and medium sized enterprises (SMEs) and Midcaps, with a particular focus on those owned or managed by women.

The EIB loan will be entirely used to finance eligible investments made by SMEs and Midcaps in sectors such as transport, agriculture value-chain, manufacturing, tourism and services. A minimum of 30% of the loan amount will be targeting businesses owned, run, employing or primarily serving women to promote gender inclusion and women empowerment in businesses, in line with the 2X Challenge criteria.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate. Access Bank PLC is in scope of EIB's Paris Alignment Framework (PATH) which supports counterparties on their pathways to align with the Paris Agreement.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Milestone
Under appraisal
Approved
Signed
18 November 2022
7 September 2023
Related projects
Link to source

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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