The African Development Bank (AfDB) has announced a cumulative financing approval of $10.9 billion in Nigeria, solidifying its position as a trusted partner in the country’s development.
Lamin Barrow, Director-General of West Africa Region, AfDB, disclosed this at an interactive session in Abuja, stating, “Our portfolio currently stands at $4.9 billion, supporting projects in the public and private sectors.”
Barrow emphasized the AfDB’s commitment to the High 5 agenda, prioritized by President Dr. Akinwumi Adesina, focusing on Power, Feed, Industrialize, Integrate, and Improve the quality of life for Africans.
He noted that projects supported during this period have impacted over 400 million people, aligning with the Sustainable Development Goals and African Union’s Agenda 2063.
The interactive session aimed to address challenges faced by youths and women in agro-business, including access to finance. Barrow commended the Federal Government’s initiatives to increase production and productivity in the sector.
The workshop seeks to enhance participants’ knowledge and skills in preparing bankable proposals to unlock financial support for their enterprises. AfDB’s Vice-President, Marie-Laure Akin-Olugbade, identified agriculture as a business, emphasizing its potential for growth and development.
