HomeEconomyBusiness & FinanceEUROPEAN BANK, EU OKAY $100M, €22M FOR PROJECT BRIDGE

EUROPEAN BANK, EU OKAY $100M, €22M FOR PROJECT BRIDGE

Nigeria’s Project BRIDGE has received major funding commitments from international partners to support nationwide broadband expansion.

The Board of the European Bank for Reconstruction and Development (EBRD) has formally approved a $100 million investment in the project.

This comes in addition to the previously secured $500 million financing from the World Bank Group.

The Minister of Communication, Innovation and Digital Economy, Dr Bosun Tijani, announced the approvals via his X handle @bosuntijani following the conclusion of an investment tour across Europe.

He also confirmed the signing of the European Union Digital Economy Package worth €45 million, which includes a €22 million grant specifically allocated to Project BRIDGE.

The remaining funds from the EU package comprise €18 million for Digital Public Services and €5 million to support the 3MTT Nigeria Programme.

Dr Tijani described the approvals as “deeply reassuring” after intensive engagements across six countries in two weeks.

He highlighted that these partnerships are essential to deploy 90,000 km of fibre optic infrastructure across Nigeria, delivering meaningful connectivity to all citizens.

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