European Bank, EU okay $100m, €22m for Project BRIDGE

Nigeria’s Project BRIDGE has secured a $100million investment from the Board of the European Bank for Reconstruction and Development (EBRD) and another a €22 million grant from the European Union Digital Economy Package of €45 million.

Minister of Communication, Innovation and Digital Economy, Dr Bosun Tijani, disclosed this via his X handle @bosuntijani.

He wrote, “As we conclude the final leg of our Project BRIDGE Investment Tour in Europe this week, following several extremely positive engagements, I am pleased to confirm the formal approval by the Board of the European Bank for Reconstruction and Development @EBRD to proceed with a $100 million investment in Project BRIDGE.

“This investment comes in addition to the already approved $500 million financing from the @worldbankgroup for the Project.

“Earlier this week, we also announced the signing of the European Union Digital Economy Package of €45 million, which includes a € 22 million grant towards Project BRIDGE, as well as €18 million for Digital Public Services and €5 million to support our 3MTT Nigeria Programme.

“These approvals are deeply reassuring as we reflect on the hard work and the air miles, across six countries in two weeks to secure the partnerships required to deploy 90,000km of fibre across Nigeria, delivering meaningful connectivity to all Nigerians.”