The Development Bank of Nigeria (DBN) has obtained a €50 million credit line from the French Development Agency (AFD) to empower women entrepreneurs and enhance their access to financing.
Through its network of over 70 participating financial institutions (PFIs), DBN aims to use this initiative to foster women’s entrepreneurship, generate jobs, and support the growth of women-owned businesses across Nigeria.
Additionally, the agreement includes a €825,000 technical assistance program to promote gender integration and strengthen the capacity of DBN and its PFIs.
DBN Managing Director and CEO Tony Okpanachi described the initiative as a critical step toward addressing the funding barriers faced by women entrepreneurs. He emphasized its potential to help scale women-owned businesses from micro-level ventures to large enterprises, ensuring funds are equitably distributed nationwide.
Xavier Muron, Country Director for AFD, highlighted the strategic importance of empowering women entrepreneurs to achieve sustainable development and build a more inclusive society. “This partnership aims to make women’s entrepreneurship a norm, ensuring women can realize their full potential,” he stated.
The collaboration demonstrates DBN’s commitment to gender inclusion and economic transformation, reinforcing its role in advancing Nigeria’s entrepreneurial ecosystem.
