Project Name:
- Development Bank of Nigeria
Project Sector:
- Financial Services
Project Sponsors:
- Development Bank of Nigeria
Commencement Date / Closure Date / Completion Date
- 22 December 2017
Project Location (Region or State):
- Abuja, FCT
Project Description:
- The Development Bank of Nigeria (DBN) is a wholesale finance institution that obtains funding from local and international capital markets and on-lends through commercial banks and restructured development banks to Micro, Small and Medium Scale Enterprises (MSMEs).
Benefits / Impact (Social, Economic & Others):
- DBN has helped alleviate financing constraints faced by MSMEs and small corporates in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-confirming and fully financially sustainable basis.
- A total of N324billion has been disbursed to MSMEs with a total of 134,855 MSMEs reached
- Women empowerment initiative with N34billion disbursed to 77,800 women led MSMEs
Project Cost / Size:
- NA
Funding structure:
- Equity (Held on behalf of the Federal Government of Nigeria)
NSIA’s interest:
- NA
Partners:
- European Investment Bank, African Development Bank, Federal Government of Nigeria (NSIA and MOFI are tasked with holding the shares on behalf of the FGN)