World Bank grants $500m boost for Nigerian small businesses
The World Bank has approved a $500 million finance package to support micro, small, and medium enterprises (MSMEs) in Nigeria. The initiative, called FINCLUDE, aims to improve access to affordable, longer-term loans, especially for women-led businesses and agribusinesses. The project will be run by the Development Bank of Nigeria and its subsidiary, Impact Credit Guarantee Limited. According to the World Bank, this move is expected to create jobs and drive economic growth across the country.
TLDR
- The World Bank approved a $500 million package for Nigerian MSMEs on June 5, 2025.
- The funding includes a $400 million loan and a $100 million credit to the Federal Republic of Nigeria.
- The FINCLUDE project will be managed by the Development Bank of Nigeria and Impact Credit Guarantee Limited.
- At least 250,000 MSMEs—including 150,000 women-led businesses and 100,000 agribusinesses—are expected to benefit.
- The initiative aims to mobilise $1.89 billion in private capital, extend loan terms, and support job creation and business growth.
