By Onu Okorie

African Development Bank AfDB says it has earmaked  $50 million gender-focused line of credit and an $8 million concessional facility under the agri-food small and medium enterprises SME catalytic financing mechanism.

A statement made available in Abuja at the weekend explained that the  facility has been approved by the AfDB’s board of directors and will be channelled through the Development Bank of Nigeria DBN to support women entrepreneurs, particularly in the agricultural sector.

The AfDB further explained that the facility was designed to strengthen lending to micro, small and medium enterprises (MSMEs) through the DBN’s network of participating financial institutions, and more than 95 per cent of the financing was specifically earmarked for women-owned and women-led small and medium enterprises. The AfDB said that the operation would combine long-term financing, concessional resources, partial credit guarantees and capacity-building support to improve access to finance for women entrepreneurs.

The bank also said the initiative aligned with its broader commitment to narrowing the gender financing gap across Africa and to promoting private-sector-led growth.

According to the bank, performance -based incentives under the AFAWA programme are expected to increase the number of eligible women-owned enterprises and expand women-focused lending within the DBN’s MSME portfolio.

The AfDB said the approval further strengthened its longstanding partnership with the DBN, which dates back to the bank’s support for the institution’s establishment through equity investment, financing and governance support.

It added that the operation aligned with the bank’s 10-year strategy 2024–2033 and Nigeria’s country strategy paper 2025–2030, which prioritised inclusive growth, gender equality and youth-focused green development.