The Development Bank of Nigeria Plc and the French Development Agency have jointly committed to strengthening the capacity of micro, small, and medium enterprises in Nigeria with an €825,000 technical assistance and capacity-building grant.

According to a statement made available to our correspondent by the bank on Sunday, the partnership also includes a €50 million credit line designed to empower women entrepreneurs and first-time borrowers, further advancing financial inclusion in the country.

The official signing ceremony, which took place recently at DBN’s headquarters in Abuja, had in attendance the French Ambassador to Nigeria, Marc Fonbaustier. The event brought together DBN’s Managing Director, Tony Okpanachi, and AFD’s Country Director, Xavier Muron, who reiterated the significance of this collaboration in driving sustainable economic growth, promoting gender equality, and empowering Nigerian women in business.

Okpanachi underscored DBN’s commitment to supporting women entrepreneurs and advancing gender equality through financial and non-financial interventions.

He remarked, “At the Development Bank of Nigeria, we are unwavering in our commitment to empowering women MSMEs in Nigeria. We believe that women are the backbone of our economy, and by supporting them, we are not only promoting gender equality but driving sustainable economic growth.”

He further emphasised the role of DBN in championing inclusive financial access, saying, “Our bank is dedicated to providing financial inclusion and access to capital for women entrepreneurs, thereby enabling them to grow their businesses and create jobs. We are also passionate about supporting the girl child, recognising that education and economic empowerment are key to unlocking their full potential.”

Similarly, AFD Country Director, Xavier Muron, highlighted the importance of empowering women in achieving a more inclusive global economy.

He stated, “By providing women with tools, resources, networks, and mentorship, AFD is committed to participating in the creation of a more inclusive and resilient global economy while encouraging women to bring their unique perspectives and ideas to the table.”

According to the statement, these funds aim to bridge knowledge and resource gaps, empowering entrepreneurs with the skills and tools required to build sustainable businesses. In addition, the €50 million credit line will offer medium- to long-term financing to MSMEs, with a focus on those who have been historically underserved by financial institutions.

Fonbaustier reiterated this commitment during the ceremony, stating, “Economic empowerment of women builds independence, increases confidence, and provides for a more equal world. France remains dedicated to supporting initiatives that contribute to these objectives.”

The statement added that the timing of this initiative coincided with the global “16 Days of Activism Against Gender-Based Violence” campaign, further emphasising the link between economic empowerment and the reduction of gender-based violence. Research indicates that improving women’s economic independence is a structural solution to addressing the root causes of such violence.

The PUNCH reported that the Development Bank of Nigeria Plc has announced plans to host the fifth edition of its Annual DBN Lecture Series on September 25 at the Transcorp Hotel in Abuja.