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Sector: Nigeria officially joins the European Bank for Reconstruction and Development

06/03/2025
Source : ORISHAS FINANCE
Categories: Sectors

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Le mardi 4 mard dernier, le Nigéria a officially joined the European Bank for Reconstruction and Development (EBRD) as a shareholder.

Nigeria, the fourth-4th largest economic power in Africa in 2024, becomes the third member from sub-Saharan Africa to join the EBRD, after Benin in May 2024 and Côte d'Ivoire in January 2025. This accession comes at a time when the EBRD is preparing to expand its activities in sub-Saharan Africa. The most populous country in Africa joins the EBRD as the 77 global shareholder. This status will allow it à to access funding to support private sector projects é , while b é Enjoying é advice and ' the bank's expertise to stimulate its economic development.

En accueillant le Nigeria comme son 77 â global shareholder Odile Renaud-Basso, president of the EBRD, indicated that “our The aim will be to draw on our expertise in private sector development and to conduct a policy dialogue to support sustainable economic growth in Nigeria.” The EBRD is ' thus committed to supporting à the country with solutions adapted to economic challenges and opportunities it offers.

According to the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, “Nigeria's membership in the EBRD reinforces our commitment to private sector-led growth, sustainable infrastructure and a greener economy. This partnership is in line with our economic reform agenda and our commitment to creating jobs through investment and innovation.”

The EBRD plans to integrate up to six sub-Saharan African countries in a first phase, between 2025 and 2030. Benin, Ivory Coast and now Nigeria have already joined the institution. Three other candidates are waiting. These are Kenya, Ghana and Senegal. The last two officially submitted their applications in October 2023 and are waiting for the process to be finalized

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