The Development Bank of Nigeria (DBN) is a wholesale development finance institution established by the

Federal Government of Nigeria The federal government of Nigeria is composed of three distinct branches: the executive, the legislative, and the judicial, whose powers are vested and bestowed upon by the Constitution of the Federal Republic of Nigeria. One of the primary f ...

to serve micro, small, and medium enterprises ( MSMEs). It provides funding and risk-sharing facilities to eligible financial intermediaries, which in turn on-lend to MSMEs across the country.

History and operations

DBN was established in 2015. The bank commenced operations with a startup capital of $1.5 billion, sourced from the Federal Government and international development partners, including the

World Bank The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

African Development Bank The African Development Bank Group (AfDB, also known as BAD in French) is a multilateral development finance institution, headquartered in Abidjan, Ivory Coast since September 2014. The AfDB is a financial provider to African governments and ...

(AfDB),

European Investment Bank The European Investment Bank (EIB) is the European Union's investment bank and is owned by the 27 member states. It is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt sol ...

(EIB), and

French Development Agency The French Development Agency (, AFD), known from 1992 to 1998 as the Caisse Française de Développement (CFD, ), is a public financial institution that implements France's development and international solidarity policies. It works to fight pov ...

(AFD). It operates as a wholesale financial institution, providing funding and risk-sharing facilities to microfinance banks and other financial institutions for on-lending to MSMEs. Since its inception, DBN has reportedly disbursed over ₦1 trillion to more than 495,000 MSMEs across Nigeria. In 2023 alone, the bank disbursed ₦ 787 billion to over 495,000 MSMEs. In 2023, DBN raised ₦23 billion in the first tranche of its ₦100 billion bond issuance programme support to MSMEs.

References

{{Reflist Banks of Nigeria Banks established in 2015 2015 establishments in Nigeria