Wema Bank has entered into a €50m financing agreement with the European Investment Bank’s development arm, EIB Global, to expand access to credit for Small and Medium-sized Enterprises.
The facility focuses specifically on women- and youth-owned businesses across the country.
The agreement was signed on Friday, 19 June 2026, at the bank’s headquarters in Lagos, marking the first transaction between EIB Global and Wema Bank.
According to both institutions, the facility is aimed at supporting eligible businesses across Nigeria, with at least 50 per cent of the loans earmarked for youth-owned enterprises to promote entrepreneurship, job creation, and inclusive economic growth.
The remaining 50 per cent will target businesses owned, managed, employing, or primarily serving women.
The initiative is backed by the European Union’s Global Gateway programme and is aligned with Nigeria’s Financial Inclusion Strategy.
In addition to the credit line, EIB Global said it would provide technical assistance to
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