At the EU-Nigeria Strategic Meeting, European Commissioner for International Partnerships, Jutta Urpilainen announced, together with Minister of Budget and Economic Planning of Nigeria, Abubakar Atiku Bagudu, a financial package for a total of over €900 million (₦728 billion). Together with Team Europe, this major package forms a central part of the EU-Nigeria cooperation to advance the country’s green, resilient, digital inclusive transition under Government priorities and Global Gateway, the EU’s positive offer to deliver sustainable and trusted connections with partner countries.
Commissioner Urpilainen said: “I am delighted to be visiting Nigeria to further strengthen our partnership, and I look forward to launching a package of new actions, as part of the Global Gateway strategy and EU support to Government priorities. Building on our long-standing cooperation, and in the best spirit of shared responsibility, commitment and accountability, the EU will continue to invest in our common future and priorities of security, democracy and prosperity for all – not least through the package of loans and grants I am signing and launching here today that will benefit the Nigerian businesses, farmers, youth and the society a as whole.”
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said: “Today marks yet another milestone in the annals of the EU-Nigeria development cooperation. The EU -Nigeria relations is one of the most vibrant development partnerships in terms of volume, thematic interventions, modalities and geographical spread in deployment of resources. The EU-Nigeria Strategic Dialogue is happening at the take-off of the current Administration in Nigeria and presents opportunities for proper articulation and consolidation of priorities in our Partnership.”
“I am very happy to announce today two financial agreements in crucial sectors for Nigeria and the region: health and entrepreneurship. The partnership with EMZOR pharmaceutical Industries is a significant step towards accelerating treatments against malaria and healthcare access across the region while reducing the dependence on the importation of essential medicines. We are proud to accompany the development of a pioneer firm committed to strengthening the antimalarial supply chain and production.
“Supporting entrepreneurship is also at the heart of our action in Africa. With a new credit facility with Access Bank, our objective is to improve access to finance for female entrepreneurs and to stimulate job creation while supporting sustainable business practices aligned with green economy priorities. The EIB was the first multilateral development bank to adopt the 2X criteria for gender finance and we congratulate Access Bank’s management for their leadership in this space.” said Ambroise Fayolle, EIB Vice-President.
Developed jointly between the EU and Nigeria, the package will drive new programmes through Global Gateway:
- Climate smart agriculture (€29 million)
- Sustainable energy (€37 million)
- Access to health services (€45 million)
- Education: support to youth and education development in the North West region (€5.4 million) which will launch to contribute to policy improvement of the teaching profession and the capacity building of teachers.
In addition to these areas of support, the package will also contribute to building access in the Nigerian social protection safety net (€46 million), support to border management and reintegration of returnees (€28.4 million), support to the Disarmament, Demobilisation and Reintegration of Boko Haram combatants in the North East region (€20 million) and, last but not least, support to improving the criminal justice system, access to justice and the fight against corruption (€30 million).
Commissioner Urpilainen has also participated in the signature of the loans issued to two Nigerian private companies and banks by the European Investment Bank, as part of the Global Gateway strategy. This includes a “2X Challenge” €50 million credit facility with Access Bank for loans to female entrepreneurs and managers in Nigeria, expected to create jobs and growth in line with the green economy priorities. The second €14 million loan is for Emzor Active Pharmaceutical Ingredients to finance the construction of a manufacturing plant for the production of anti-malarial drugs.
For further information, please contact:
At the EU Delegation: Modestus CHUKWULAKA, Press officer, +234 803 3113017
Ministry of Budget and Economic Planning: Boriowo Folasade, Dir of Press, 08112393272
List of Financing Agreements to be signed and EU-Nigeria cooperation projects to be officially launched at the eighth Nigeria-EU strategic dialogue
(Abuja, 19th October 2023)
|
EU GLOBAL GATEWAY – NIGERIA |
Counterpart |
Million EUR |
|
Financing Agreements |
116.4 |
|
|
Climate-Smart AgricultureforDevelopment This Action intends to contribute to the development of Green and Digital Economy in Nigeria, by in particular: supporting climate-smart, innovative agriculture with an improved agribusiness climate and equitable participation of women and youth. |
Ministry of Agriculture and Food Security |
29 |
|
Cooperation Programme for Sustainable Energy Sector The Action intends to contribute to the development of Green and Digital Economy in Nigeria, by in particular: expanding access to clean, efficient and reliable energy while mitigating environmental pollution and greenhouse gasses. |
Ministry of Power |
37 |
|
Strengthening Access to Reproductive and Adolescent Health. The Action aims at contributing to sustainable demographic transition and Universal Health Coverage by supporting gender and adolescent-responsive integrated Sexual, Reproductive, Maternal and Child Health in Nigeria |
Ministry of Health |
45 |
|
Education and Youth Empowerment in North-Western Nigeria. This action intends to contribute to policy improvement of the teaching profession and the capacity building of teachers |
Ministry of Education |
5.4 |
|
European Investment Bank (EIB) Loan Signatures |
64 |
|
|
Emzor Active Pharmaceutical Ingredients (loan signature) Under the Covid-19 essential manufacturing envelope, this private sector operation is to finance the construction of an API manufacturing plant for the production of anti-malarial drugs. |
Emzor Ltd |
14 |
|
Access Bank Gender Finance (loan signature) “2X Challenge” credit facility for loans to female entrepreneurs and managers in Nigeria, expected to create jobs and growth in line with the green economy priorities. |
Access Bank |
50 |
|
European Investment Bank (EIB) Loans pipeline |
600 |
|
|
Husk Renewable Energy Investment (loan signature) The operation is to finance construction of about 150 small PV-hybrid mini-grids with a total PV capacity of 15 MWp, benefiting some 54,000 households and 6,000 SMEs. It is one of the GG2023 flagship initiatives. |
Husk Power Systems (subject to loan signature) |
20 |
|
Nigeria Access to Agri Markets (RAAMP) (info point) The operation aims to finance the construction of rural roads and agro logistic hubs in various states in Nigeria. The operation has already been approved by the EIB and is expected to be signed soon. |
Ministry of Finance / Ministry of Agriculture and Rural Development (subject to loan signature) |
150 |
|
DBN Green and Innovative SMEs (info point) This planned wholesale operation with the Development Bank of Nigeria is to boost lending to innovative and green SMEs in Nigeria. |
Ministry of Finance / Development Bank of Nigeria (subject to approval) |
200 |
|
Wide-Lag – Lagos inland waterway green transport (info point) Led by AFD, EIB and the EU Commission are intending to complete the financing package together with the Lagos State government for this green transport project in Lagos, launching solar-powered ferries on the Lagos inland waterways. |
Ministry of Finance/Government of Lagos (subject to approval) |
170+60 EU grant (+130 AFD) |
|
Grand total Global Gateway |
780.4 |
|
Other EU-Nigeria cooperation programmes (grants) – signature of financing agreements |
Counterpart |
124.4 |
|
Supporting Sustainable and Innovative social protection programmes EU Support to Social Protection and Safety-Nets aims at strengthening the social protection system and implement solutions to alleviate poverty durably in selected states. |
Ministry of Humanitarian Affairs/Ministry of Labour |
46 |
|
The EU Support for the Disengagement, Review, Reintegration, and Reconciliation of Persons Formerly Associated with Non-State Armed Groups (NSAGs) in North-East Nigeria (SD3R) programme aims to contribute to peacebuilding and stability in the North-East region of Nigeria by providing support to individuals who were previously associated with non-state armed groups in their reintegration and reconciliation process, thereby contributing to long-term peacebuilding in the affected areas. |
ONSA / MBEP |
20 |
|
The Support to Migration Governance in Nigeria programme seeks to support Nigeria’s efforts in strengthening governance systems to better manage mobility and migration at federal, state and local levels. Building on achievements under previous EU funded initiatives, the Action intends to strengthen the overall migration governance framework in Nigeria, including sustainable reintegration and the response to irregular migration, through the scaling up of interventions aimed at enhancing migration management, assisting returnees to achieve improved economic, social and psychosocial reintegration, as well as countering human trafficking and smuggling of migrants. |
NAPTIP/NIS and MBEP |
28.4 |
|
The Rule of Law and Anti-Corruption (ROLAC) phase II programme aims to continue supporting the strengthening of rule of law and the fight against corruption, as well as reducing gender-based violence while promoting respect for human rights, ensuring inclusivity for all Nigerians. |
Ministry of Justice/MBEP |
30 |
|
TOTAL GLOBAL GATEWAY AND OTHER FINANCING PACKAGE |
904.4 |
|
This post was originally published on this site be sure to check out more of their content.
