Proparco signs $30m Sterling Bank energy and agriculture loan

Tuesday 3rd November 2026

By inAfrika Newsroom

Proparco and Nigeria’s Sterling Bank have signed a $30 million senior credit facility to finance renewable energy and agricultural businesses, with four-fifths of the funding earmarked for energy projects.

The French development-finance institution announced the agreement on 29 October. Sterling chief executive Abubakar Suleiman and French Development Agency chief executive Christophe Lecourtier signed it at the bank’s Lagos headquarters, according to the announcement.

The allocation is equivalent to $24 million for renewable energy and $6 million for small and medium-sized agricultural businesses, calculated from the disclosed 80:20 split. The energy component will support off-grid solutions, particularly solar power for households and companies.

The facility is a loan to Sterling, which will provide financing to businesses and projects. The announcement describes a signed agreement rather than reporting disbursements to final borrowers.

It is the first partnership between Sterling and Proparco, the private-sector subsidiary of the French Development Agency group. The financing falls within Sterling’s HEART strategy, which covers health, education, agriculture, renewable energy and transport.

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