# EIB Global, FCMB join forces for €85m sustainable agriculture funding

> EIB Global and FCMB partner to fund Nigerian dairy and cocoa value chains with €85m.
- Title: EIB Global, FCMB join forces for €85m sustainable agriculture…
- Summary: EIB Global and FCMB partner to fund Nigerian dairy and cocoa value chains with €85m. EIB Global and FCMB provide €85 million to support private-sector…
- Keywords: eib global, fcmb, nigeria, sustainable agriculture, dairy value chain, cocoa value chain, eu investment, private sector funding, agricultural development, sustainable farming, news, politics
- Source: Premium Times Nigeria — https://premiumtimesng.com/business/business-news/918560-eib-global-fcmb-join-forces-to-support-private-sector-sustainable-agriculture-with-e85-million-funding.html
- Author: Press Release
- Published: 2026-10-20T16:08:20+00:00
- Read time: 3 min
- Topics: eib global, fcmb, nigeria, sustainable agriculture, dairy value chain, cocoa value chain, eu investment, private sector funding, agricultural development, sustainable farming, news, politics
## EIB Global and FCMB announce €85m funding
EIB Global and First City Monument Bank (FCMB) have announced €85 million financing to support private-sector companies across agricultural value chains in Nigeria.
## 70% targets cocoa and dairy value chains
At least 70% of the financing will target cocoa and dairy value chains in Nigeria.
## First EU investment outside EU for dairy sector
The operation is EIB Global’s first investment covering the dairy sector outside the European Union.
## Aligned with Nigeria’s development goals
The financing is fully aligned with Nigeria’s development objectives in sustainable agriculture and inclusion as well as environmental and social standards (ESS).
## Announced at IMF/World Bank meetings
The announcement was made during the Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok.
## Key officials present
EIB Group President Nadia Calviño, Nigerian Minister of Finance Taiwo Oyedele, EIB Vice-President Ambroise Fayolle, and FCMB CEO Yemisi Edun attended.
## Addresses dairy market gaps
The EIB Global financing will address market gaps in the dairy sector, enabling growth of EU businesses in Nigeria requiring increased milk supply.
## Strengthening cocoa processing
With Nigeria being one of the world’s largest cocoa exporters, the investments will strengthen industrial processing capacities along the value chain.
## Supports cocoa cooperatives and farmers
The financing provides liquidity support to cocoa cooperatives and farmers and improves product traceability.
## Compliance with EU deforestation regulation
Compliance with the EU Regulation on Deforestation (EUDR) will be ensured, fostering biodiversity conservation and reducing environmental externalities.
## Technical assistance for climate action
EIB Global is providing technical assistance to support FCMB’s climate action strategy and the Nigerian agriculture sector’s capacity to manage environmental and social risks.
## EIB Group President statement
EIB Group President Nadia Calviño stated that the EIB Group invests in agricultural value chains in Africa, main drivers of food security and economic growth.
## EIB Vice-President statement
EIB Vice-President Ambroise Fayolle said the investment supports Nigerian agribusinesses to grow competitively while meeting international environmental and social standards.
## European Commissioner statement
European Commissioner for International Partnerships Jozef Sikela stated that Nigeria has enormous potential in agriculture and needs to create value in Nigeria.
## FCMB CEO statement
FCMB CEO Yemisi Edun said access to finance can make the difference between selling raw produce and building businesses that process more.
## Project aligns with EU geopolitical priorities
The project aligns with the EU’s geopolitical priorities and Nigeria’s development plans by supporting sustainable food systems and strategic food autonomy.
## Contribution to Team Europe Initiative
The investment also contributes to the Team Europe Initiative (TEI) on Green Economy, promoting climate-smart agriculture and inclusive agribusiness.
## EIB Group’s total investment in Nigeria
Overall in Nigeria, the EIB Group has invested €2.3 billion since 1978, supporting sustainable urban transport, climate adaptation, innovation, and agribusiness logistics.
## Key takeaway

EIB Global and FCMB provide €85 million to support private-sector companies in Nigeria's dairy and cocoa value chains, aligning with EU environmental standards and sustainable agriculture goals.