Nigeria - Bank of Industry (BOI)

The Bank of Industry (BOI) Nigeria Facility is a USD 200 million sovereign-guaranteed line of credit to the Bank of Industry (BOI) in Nigeria, designed to expand access to medium- and long-term finance for indigenous enterprises in strategic sectors of the economy. The project supports BOI’s financing of enterprises operating in infrastructure and transport, agro-food processing, health and pharmaceuticals, and industry and green industrialization, while also providing targeted financing to SMEs, especially women-owned/led SMEs and youth-owned businesses. The facility is complemented by a FAPA technical assistance grant of USD 0.7 million and is part of a broader financing package that includes USD 100 million from the Islamic Development Bank, bringing the total project cost to about USD 300.7 million. The technical assistance will support BOI in strengthening green finance, ESG and climate-smart SME capacity, automation of performance tracking and reporting, and improved targeting of women and youth enterprises. The borrower is BOI, the guarantor is the Federal Republic of Nigeria, and the executing agency is BOI.