The European Bank for Reconstruction and Development (EBRD) has launched its first-ever investment in Nigeria. It is extending a €85 million trade finance facility to Access Bank, Nigeria’s largest commercial lender by assets.

The facility, provided under the EBRD’s Trade Facilitation Programme (TFP), is aimed at strengthening Nigeria’s import and export activities. More so, it will deepen trade links between Nigerian businesses and global markets. Most recently, the EBRD has been expanding beyond its traditional regions of operation into sub-Saharan Africa, and this is one of its most significant moves.

Under the arrangement, Access Bank will use the trade finance limit to issue guarantees in favour of foreign commercial banks. It will also provide cash advances to fund trade-related loans to local companies. These will cover pre-export financing, post-import activities and local distribution, with an additional focus on enabling intra-regional African trade.

The facility is also designed to help Access Bank diversify its correspondent banking relationships and strengthen trade finance links with other EBRD countries of operation.

Beyond financing, the investment is backed by a comprehensive technical cooperation package funded by the EBRD. This will include regular training sessions, workshops, e-learning courses and broader capacity-building initiatives. This will enable Access Bank enhance its trade finance capabilities and risk management practices.

EBRD President Odile Renaud-Basso said the deal reflects the bank’s commitment to supporting Nigeria’s private sector and financial system. “We are delighted to sign our first agreement in Nigeria and partner with Access Bank. We remain committed to supporting the development of local financial institutions and fostering a business environment that drives sustainable private-sector growth and trade finance in Nigeria,” she said.

Access Bank’s Managing Director, Roosevelt Ogbonna, described the partnership as a strategic boost to Africa’s trade ecosystem. “We are pleased to be the first financial institution in Nigeria to partner with the EBRD. This partnership represents a significant step in strengthening Africa’s trade ecosystem and aligns with our commitment to empowering businesses, deepening regional trade and supporting sustainable economic growth,” he said.

The investment builds on recent institutional changes at the EBRD.

At its 2023 Annual Meeting in Samarkand, the bank’s Board of Governors approved amendments to its founding agreement, allowing it to begin operations in sub-Saharan Africa and Iraq.

Nigeria officially became an EBRD country of operation in September 2025. The bank is focusing on private-sector-led growth, access to finance and sustainable economic transformation.

The EBRD’s entry is expected to complement reforms in Nigeria’s financial sector while crowding in additional international capital.