The European Bank for Reconstruction and Development (EBRD) has made a landmark entry into Nigeria with what is both its first investment in the country and its inaugural financial commitment in sub-Saharan Africa’s banking sector. The multilateral development bank agreed to provide a US$100 million (€85 million) trade finance facility to Access Bank, one of Nigeria’s largest and most influential commercial lenders. This marks a meaningful extension of the EBRD’s global footprint and signals confidence in Nigeria’s economic potential.
Under the bank’s Trade Facilitation Programme (TFP), the newly approved facility will bolster Access Bank’s trade finance operations by enabling it to issue guarantees to international correspondent banks and provide cash advances that support trade-related lending. These funds are expected to ease the financing of a range of commercial activities including pre-export preparation, post-import financing and local distribution. The facility is also designed to help deepen trade links with other countries in which the EBRD operates and to expand intra-regional commerce across African markets.
Complementing the financing, the EBRD will offer a comprehensive technical cooperation package aimed at strengthening Access Bank’s institutional capacity. This support includes regular training sessions, workshops, digital learning modules and other capacity-building initiatives designed to enhance the bank’s expertise in trade finance and risk management. By improving skills and systems internally, the program is expected to boost the bank’s competitiveness and its ability to serve a broader base of corporate clients.
Odile Renaud-Basso, President of the EBRD, welcomed the agreement and emphasised the significance of the partnership. She framed the investment as a milestone in the institution’s expansion into new economic regions, underscoring its commitment to supporting the development of local financial institutions and nurturing an environment that fosters private-sector growth, sustainable trade and increased financial inclusion in Nigeria.
For Roosevelt Ogbonna, Managing Director of Access Bank, the collaboration represents a pivotal moment for the institution and the broader banking sector in Africa. He described the agreement as “a significant step in strengthening Africa’s trade ecosystem,” adding that it aligns with Access Bank’s strategic priorities of deepening regional trade networks, delivering innovative financial solutions and supporting sustainable economic growth. He said the bank looks forward to leveraging this partnership to enhance its trade finance capabilities and deliver greater value to customers and stakeholders.
Access Bank, part of Access Holdings plc and listed on the Nigerian Exchange, operates a vast network of more than 700 branches and service outlets, serving roughly 60 million customers across 24 markets on three continents. The bank has built a reputation for dynamic growth and cross-border expansion, positioning itself as a key player in connecting African businesses with international markets.
Nigeria’s path to hosting this first EBRD investment was shaped by key institutional developments in recent years. At the bank’s 2023 Annual Meeting in Samarkand, its Board of Governors approved an amendment to the EBRD’s founding Agreement, enabling the institution to extend its operations to sub-Saharan Africa and Iraq. This change paved the way for Nigeria’s inclusion and subsequent collaborations with the bank. After formal approvals, the EBRD began operating in Nigeria in September 2025, with a focus on unlocking access to finance for local businesses, supporting sustainable long-term growth and contributing to the transformation of the country’s economic landscape.
The investment reflects broader aspirations to enhance financial infrastructure and increase access to capital across Africa. As multilateral institutions like the EBRD engage more actively in the region, analysts say such collaborations could play a vital role in supporting private-sector development, deepening trade linkages and encouraging foreign direct investment into fast-growing emerging economies.
