AFD signs $60 million loan deals with BOI, Sterling Bank to support Nigerian businesses
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Verified Synthesis~46s readAgence Française de Développement (AFD) Group has signed two loan agreements worth a combined $60 million with the Bank of Industry (BOI) and Sterling Bank to finance businesses in Nigeria’s creative, agricultural and renewable energy sectors. The agreements comprise a $30 million facility to BOI for businesses in the cultural and creative industries, including Nollywood and Afrobeats, and another $30 million loan from Proparco, AFD Group’s private sector subsidiary, to Sterling Bank.
Context & Background
- ✦The deals were signed during a visit to Lagos by AFD Group CEO Christophe Lecourtier, as France seeks to deepen economic cooperation with Nigeria and support investment in priority sectors.
Key Figures & Named Entities
$60 million:Agence Française de Développement (AFD) Group has signed two loan agreements worth a combined $60 million with the Bank of Industry (BOI) and Sterling Bank to finance businesses in Nigeria’s creative, agricultural and renewable energy sectors.$30 million:The agreements comprise a $30 million facility to BOI for businesses in the cultural and creative industries, including Nollywood and Afrobeats, and another $30 million loan from Proparco, AFD Group’s private sector subsidiary, to Sterling Bank.Wednesday:According to a statement issued on Wednesday by Mariam-Emmanuelle Kone, AFD’s Regional Communications Head, the facilities are part of the agency’s broader engagement with Nigeria, where it has committed approximately €2.5 billion to more than 50 ongoing projects.
Outlook & Next Steps
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Key Takeaways
Verified Extract- Agence Française de Développement (AFD) Group has signed two loan agreements worth a combined $60 million with the Bank of Industry (BOI) and Sterling Bank to finance businesses in Nigeria’s creative, agricultural and renewable energy sectors.
- The agreements comprise a $30 million facility to BOI for businesses in the cultural and creative industries, including Nollywood and Afrobeats, and another $30 million loan from Proparco, AFD Group’s private sector subsidiary, to Sterling Bank.
- The deals were signed during a visit to Lagos by AFD Group CEO Christophe Lecourtier, as France seeks to deepen economic cooperation with Nigeria and support investment in priority sectors.
Key Facts:$60 million: Agence Française de Développement (AFD) Group has signed two loan agreements worth a combined $60 million with the Bank of Industry (BOI) and Sterling Bank to finance businesses in Nigeria’s creative, agricultural and renewable energy sectors.$30 million: The agreements comprise a $30 million facility to BOI for businesses in the cultural and creative industries, including Nollywood and Afrobeats, and another $30 million loan from Proparco, AFD Group’s private sector subsidiary, to Sterling Bank.Wednesday: According to a statement issued on Wednesday by Mariam-Emmanuelle Kone, AFD’s Regional Communications Head, the facilities are part of the agency’s broader engagement with Nigeria, where it has committed approximately €2.5 billion to more than 50 ongoing projects.2026: Nigeria’s budget deficits fueling naira depreciation, CBN study findsTinubu seeks Senate approval for N10.79 trillion external borrowing to fund 2026 budgetGhana inflation rises to 5.5%, highest in 11 months ahead of November rate decisionCreative industry, agriculture and renewable energy targeted The $30 million loan to BOI is expected to expand access to financing for businesses operating in Nigeria’s cultural and creative industries.
Editorial Excerpt
Agence Française de Développement (AFD) Group has signed two loan agreements worth a combined $60 million with the Bank of Industry (BOI) and Sterling Bank to finance businesses in Nigeria’s creative, agricultural and renewable energy sectors.
Frequently Asked Questions About This Story
What is the latest development regarding National Assembly of Nigeria?
Agence Française de Développement (AFD) Group has signed two loan agreements worth a combined $60 million with the Bank of Industry (BOI) and Sterling Bank to finance businesses in Nigeria’s creative, agricultural and renewable energy sectors.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include National Assembly of Nigeria, Lagos State, Central Bank of Nigeria.
What timeline or key figures were confirmed?
Agence Française de Développement (AFD) Group has signed two loan agreements worth a combined $60 million with the Bank of Industry (BOI) and Sterling Bank to finance businesses in Nigeria’s creative, agricultural and renewable energy sectors.
