<blockquote><b>Nigeria has been formally admitted as a member of the European Bank for Reconstruction and Development (EBRD) to enhance private sector access to foreign capital.<br><br>This development is expected to significantly boost private sector access to international capital in both foreign exchange and local currency, supporting the countrys long-term economic transformation.</b><br><br>The EBRD is a leading climate financier globally, investing in climate change initiatives, green energy, and sustainable growth.<br><br><b>A strategic milestone</b><br><br>Speaking at the EBRDs 2025 Annual Meetings in London, Minister of Finance, Wale Edun, described Nigerias accession as a strategic milestone that aligned with President Bola Tinubus Renewed Hope Agenda.<br><br><b>This is a proud day for Nigeria. Our accession to the EBRD marks a critical milestone in our economic reform journey. We are committed to building a transparent, rules-based economy that unlocks private investment and accelerates inclusive growth, the Minister stated during the Board of Governors Plenary Session.<br><br>With over 80% of its financing directed towards the private sector, the EBRD plays a pivotal role in supporting entrepreneurship, SMEs, and large-scale investments across key sectors.</b><br><br><b>Nigerias membership opens new opportunities for local businesses to access development finance and technical expertise in priority areas such as energy transition, infrastructure, agriculture, and digital innovation.</b><br><br>The Minister also held high-level bilateral meetings with delegations from France and the United States, reinforcing Nigerias position as an active and trusted partner in global economic governance.<br><br><br><b>Background</b><br><br>The 2025 EBRD Annual Meetings, themed Expanding Horizons, Enduring Strengths, brought together leaders from over 70 economies to advance dialogue on inclusive growth, resilience, and sustainable development.<br>Nigeria initially joined the EBRD as its 77th shareholder in March, marking a significant milestone in the countrys economic trajectory.<br>This followed Nigerias application to join the bank in April 2024, which the EBRDs Board of Governors approved in May 2024.</blockquote><br><a rel=ugc href="https://nairametrics.com/2025/05/16/nigeria-formally-becomes-member-of-european-bank-for-reconstruction-and-development-to-boost-private-sector-growth/">https://nairametrics.com/2025/05/16/nigeria-formally-becomes-member-of-european-bank-for-reconstruction-and-development-to-boost-private-sector-growth/</a>
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