The World Bank has approved the Fostering Inclusive Finance for MSMEs in Nigeria (FINCLUDE) project, a $500 million financing package designed to expand access to finance for small and medium enterprises across the country.
Program Overview
FINCLUDE Project Details
Total Funding: $500 million
Funder: World Bank / IDA
Focus: Micro, Small, and Medium Enterprises (MSMEs)
Approval Date: December 2025
Why This Matters
Nigeria has over 40 million MSMEs that contribute approximately 50% of GDP and employ over 80% of the workforce. However, a significant financing gap exists, with most small businesses unable to access formal credit.
Opportunities for Foreign Investors
Co-Investment Opportunities
Blended Finance: Partner with DFIs to provide capital alongside World Bank funding
Technical Assistance: Provide expertise in specific sectors or technologies
Supply Chain Finance: Offer financing to SMEs in your supply chain
Sector Focus Areas
Agriculture: Agro-processing, storage, and logistics
Manufacturing: Light manufacturing and import substitution
Technology: Digital services and fintech solutions
Renewable Energy: Solar, mini-grids, and clean cooking
I-STRATA Advisory
I-STRATA can help foreign investors identify partnership opportunities within the FINCLUDE ecosystem, connect with participating financial institutions, and structure compliant investment vehicles.