The European Bank for Reconstruction and Development (EBRD) has launched its first investment in Nigeria and its first in the sub-Saharan financial sector by providing a $100 million (€85.0 million) trade finance facility to Access Bank, Nigeria’s leading commercial bank.
In a statement emailed to BusinessDay, the EBRD said the trade finance limit, issued under its Trade Facilitation Programme (TFP), is designed to support Access Bank’s trade finance operations. The facility is expected to help the bank diversify its correspondent banking relationships and strengthen trade finance links with other EBRD countries of operation.
According to the statement, the limit and the expanded trade finance capacity will be used to issue guarantees in favour of foreign commercial banks. It will also provide cash advances to fund trade-related loans to local companies. These include pre-export financing, post-import financing and local distribution activities, while also enabling more intra-regional trade across markets.
The EBRD said the trade line will be supported by a comprehensive technical cooperation package funded by the bank. This support will offer Access Bank regular training sessions, workshops, e-learning courses and other capacity-building activities aimed at improving skills and operational standards in trade finance.
Speaking on the agreement, Odile Renaud-Basso, President of the EBRD, said, “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.”
Roosevelt Ogbonna, managing director of Access Bank, said the deal marked an important milestone for the bank and the country. “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,” he said.
Ogbonna added, “This also aligns with our commitment to providing robust financial solutions that empower businesses, deepen regional trade and support sustainable economic growth. We look forward to leveraging this collaboration to enhance our trade finance capabilities and deliver even greater value to our customers and stakeholders.”
Access Bank is Nigeria’s leading commercial bank, with a network of more than 700 branches and other outlets. The bank serves about 60 million customers across 24 markets on three continents and is owned by Access Holdings plc, the largest financial holding company listed on the Nigerian Exchange.
After approval at the 2023 Annual Meeting in Samarkand, the EBRD began operating in Nigeria in September 2025, focused on growth.
