AfDB Backs Nigeria's Women-Led Businesses with $61M Funding Boost
The African Development Bank Group (AfDB) has approved a $61 million financing package for Nigeria’s Development Bank of Nigeria (DBN). The funds will boost lending to women-owned and women-led businesses across the country. Over 95% of the total amount is earmarked specifically for these enterprises.
The financing package breaks down into three parts: a $50 million gender-focused line of credit, an $8 million concessional facility, and a $3 million grant. These resources will flow through DBN’s network of financial institutions to expand credit access for micro, small and medium enterprises (MSMEs).
The initiative targets women entrepreneurs in key sectors, including agriculture, clean energy, healthcare, and others. By offering long-term financing, concessional funding, partial credit guarantees, and technical assistance, the programme aims to strengthen Nigeria’s MSME ecosystem. Performance-based incentives are also included to encourage more lending to women-owned businesses. The goal is to increase the share of women-focused loans within DBN’s MSME portfolio, supporting broader private sector growth and economic inclusion.
The facility will help DBN’s partner institutions expand their lending capacity to women-led enterprises. Improved access to affordable credit is expected to drive growth in sectors where women play a major role. The programme aligns with efforts to promote inclusive economic transformation in Nigeria.
