The African Development Bank has approved a total of 10.9 billion dollars in financing for projects in Nigeria, according to the Director-General of West Africa Region, Lamin Barrow. This announcement was made during the Second Interactive Session and Workshop on Developing Bankable Business Proposals for Youths in Agriculture, as part of the Bank’s 60th Anniversary celebrations.
Barrow highlighted the Bank’s growth as a trusted partner and premier development financial institution on the continent over the past 60 years, with Nigeria as its largest shareholder. The cumulative financing approvals for Nigeria now stand at 10.9 billion dollars, supporting projects in both the public and private sectors.
The Bank’s focus under President Dr Akinwumi Adesina has been on the High 5 priorities, which include Power, Feed, Industrialize, Integrate, and Improve quality of life in Africa, aligning with the SDGs and the AU’s Agenda 2063. Projects supported have positively impacted over 400 million people.
The workshop aims to address challenges faced by youths and women in Agro-business, with a focus on access to finance. It will equip participants with the skills needed to prepare bankable proposals for their enterprises, supporting the efforts to increase production, create job opportunities, and combat food insecurity in Nigeria.
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