21/12/2025
World Bank has approved a $500 million for MSME finance package for Nigeria
The World Bank has approved a $500 million financing package, known as the Fostering Inclusive Finance for MSMEs in Nigeria (FINCLUDE) project, to improve access to finance for Micro, Small and Medium Enterprises (MSMEs) in Nigeria. This project was approved on December 20, 2025.
The project aims to address the funding gap faced by Nigerian businesses, particularly MSMEs. The financing includes a $400 million loan from the IBRD and a $100 million credit from the IDA. The Development Bank of Nigeria (DBN) will manage the funds, using credit guarantees from its subsidiary, Impact Credit Guarantee Limited (ICGL). The initiative is expected to mobilize approximately $1.89 billion in private capital, providing debt financing to about 250,000 MSMEs, including 150,000 women-led businesses and 100,000 agribusinesses. Partial credit guarantees and technical assistance utilizing AI-enabled platforms are part of the project's mechanism to encourage lending.
For additional information, you can visit the World Bank website.