The European Bank for Reconstruction and Development (EBRD) has officially signed its first investment in Nigeria. A $100 million trade finance line of US dollars was granted to Access Bank, the main commercial bank of countries, aiming to boost local and regional trade.

First ever EBRD financing in Nigeria and in the financial sector in sub-Saharan Africa, this credit line aims to support Access Bank's trade finance operations, to diversify its relationships with its correspondent banks and to strengthen its ties of trade financing with the other countries in which the EBRD operates. Elle is part of the Trade Facilitation Programme (TFC) of the BERD. This line of credit and increased trade finance capacity will allow guarantees to be issued in favor of commercial banks foreign and to grant cash advances to finance linked loans to trade to local businesses, in particular for the activities of pre-export, post-import and local distribution.

“We are thrilled to be the first Nigerian financial institution to partner with BERD. This partnership represents a major step forward in strengthening the African business ecosystem. It is also part of our commitment to provide efficient financial solutions that support businesses, deepen regional trade and promote growth sustainable economic. We look forward to taking advantage of this collaboration for improve our trade finance capabilities and provide a even greater added value to our customers and partners.” declared the CEO of Access Bank, Roosevelt Ogbonna