In an effort to increase access to finance for small and medium-sized enterprises run by young people and women, the African Development Bank (AfDB) has approved a $100 million loan.

The Nigeria Youth Entrepreneurship Investment Bank (YEIB) initiative is set up to promote economic growth and job creation in the country by acting as an anchor and unifier of the ecosystem, bringing together actors financial and non-financial concerned to collaborate more effectively in favor of young entrepreneurs. The Bank Group's $100 million investment will be reinforced by an additional $25 million from DBN and $5 million from NSIA. In reality, the initiative is based on two main pillars: the creation of the investment management company YEIB to oversee three special purpose vehicles: an equity investment fund (EIF), an ecosystem development fund (EDF) and a credit guarantee mechanism (CGF) and the creation of these vehicles to support businesses run by young people and women.

According to the Director of the Bank's Financial Sector Development Department, Mr. Ahmed Attout, “the YEIB is a transformative initiative that goes beyond project-based approaches to propose systemic and institutional solutions for the development of entrepreneurship in all sectors. By positioning young Nigerian entrepreneurs as an asset class with high investment potential, it brings together key stakeholders to unlock financial opportunities, open new paths for public and private sector investors, and address structural challenges faced by young entrepreneurs.