The European Bank for Reconstruction and Development (EBRD) has made its first investment in Nigeria and its first-ever engagement in the sub-Saharan African financial sector. The Bank has introduced a US$100 million (€85 million) trade finance facility for Access Bank, one of Nigeria’s largest and most influential commercial banks. This marks a significant step in expanding the EBRD’s operations into new regions following recent changes to its mandate. The new investment is part of the EBRD’s Trade Facilitation Programme (TFP) and is designed to strengthen Access Bank’s trade finance activities.
The facility will help the bank broaden its network of correspondent banking partners and develop stronger trade links with countries where the EBRD already operates. Through the TFP, Access Bank will be able to issue guarantees to international commercial banks and extend trade-related loans to Nigerian companies. These loans will support a range of activities including pre-export financing, post-import operations and domestic distribution. The facility will also promote greater trade within Africa by supporting intra-regional commercial exchanges.
Alongside the financial package, Access Bank will benefit from a comprehensive technical cooperation programme funded by the EBRD. This support will include specialised training, workshops, e-learning modules and capacity-building activities to strengthen the bank’s trade finance expertise and operational capabilities. EBRD President Odile Renaud-Basso described the agreement as an important milestone. She said the Bank is pleased to launch its first project in Nigeria and to work with Access Bank, adding that the EBRD remains committed to supporting strong financial institutions and helping create an environment that encourages private-sector development and sustainable trade finance.
Roosevelt Ogbonna, Managing Director of Access Bank, welcomed the partnership, noting that Access Bank is proud to be the first Nigerian financial institution to collaborate with the EBRD. He highlighted that the initiative will help reinforce Africa’s trade ecosystem, complement the bank’s efforts to provide reliable financial solutions, and support regional trade and economic progress. Ogbonna said the agreement will enable the bank to enhance its trade finance services and deliver increased value to customers and stakeholders.
Access Bank is Nigeria’s leading commercial bank, with a network of more than 700 branches and outlets and a customer base of 60 million across 24 markets on three continents. The bank is owned by Access Holdings plc, the largest financial holding company listed on the Nigerian Exchange. The EBRD’s expansion into sub-Saharan Africa became possible after its Board of Governors approved an amendment to the Agreement Establishing the Bank at the 2023 Annual Meeting in Samarkand. This amendment allowed the institution to begin operations in sub-Saharan Africa and Iraq. The Bank formally started its activities in Nigeria in September 2025. Its work in the country focuses on strengthening the private sector, increasing access to finance, supporting local businesses and contributing to sustainable long-term economic development.
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