Release date: 29 December 2025
Promoter – Financial Intermediary
BANK OF INDUSTRY LTDLocation
Description
Support to healthcare manufacturing projects in Nigeria addressing unmet medical needs including research and development and the manufacturing of medicinal products such as pharmaceuticals, vaccines, medical devices, and nutritional products through a financing facility of €50 million loan to the Bank of Industry.
Objectives
The principal objective of the project is to strengthen Nigeria's healthcare systems by investing in local manufacturing of medical devices and pharmaceuticals and medical research through a financial sector credit line under the Human Development Window mandate. The credit line is being put in place in parallel to a partial portfolio guarantee of up to €25 million. The financing package will be an important contributor to Nigeria's ambitions for self-sufficiency in managing its healthcare systems and supplying crucial medicines locally.
Sector(s)
- Services - Financial and insurance activities
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 100 million
Environmental aspects
The final beneficiaries benefiting from EIB financing will be required to comply with the EIB Group's Environmental and Social Policy and the EIB Environmental and Social Standards.
Procurement
The borrower and the sub-projects will be required to comply with the EIB's Guide to Procurement where applicable.
Status
Signed - 21/12/2025