Boost Africa project attracts over €100m in EIB

From Isaac Anumihe, Abuja

The Boost Africa Project Team of the European Investment Bank (EIB) planned for Abuja on October 26, 2026, has already attracted over €100 million from the European Investment Bank (EIB).

The Boost Africa Project Team, planned in partnership with the Federal Ministry of Budget and Economic Planning (FMBEP) on the sidelines of the 32nd Nigerian Economic Summit, will bring together senior government officials, European development institutions, investors and private-sector stakeholders and other development partners to explore opportunities for leveraging development finance, grants, technical assistance and innovative partnerships to advance Nigeria’s productive sectors, infrastructure development and entrepreneurship.

A major highlight will be Boost Africa, a joint initiative of the European Investment Bank (EIB) and African Development Bank (AfDB), supported by the European Union, which provides venture capital and technical assistance to innovative African enterprises, particularly those led by young people and women.

The project will support enterprise development in technology, agribusiness, financial services, renewable energy and other growth sectors.

The programme’s wider ambition is to leverage approximately €1 billion in investments across Africa, demonstrating the potential of development finance to attract additional private capital.

The Boost Africa session will feature perspectives from investment fund managers, beneficiary enterprises and European development institutions on the programme’s achievements, lessons and opportunities for sustaining support to African entrepreneurs.

In a statement, discussions will also explore the next phase of entrepreneurship financing, including opportunities to strengthen venture capital ecosystems, expand access to growth finance and technical assistance, and deepen engagement with Nigerian enterprises under relevant European investment initiatives.

Alongside Boost Africa, the event will showcase integrated investment programmes covering productive growth, transport and trade infrastructure, and enabling facilities.

“A dedicated panel involving the key stakeholders will examine commercial opportunities, cargo demand, project preparation, regulatory requirements and financing prospects,” the statement noted.

The initiative underscores the Federal Government’s commitment to translating development co-operation into viable investments, enterprise growth, improved logistics, employment opportunities and sustainable economic development, in line with the thrusts of the successor National Development Plan (NDP) 2026-2030, and the aspiration of building a $1 trillion economy.

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