Sweden invites FG to submit projects for financing

The Swedish Government has extended an invitation to Nigeria's Federal Government to submit priority development projects for potential financing, guarantees, technical assistance, and investment support. This invitation comes as both nations aim to enhance their economic cooperation. The announcement came following a recent meeting between Swedish and Nigerian officials in Abuja, where Swedish Ambassador to Nigeria, Anna Westerholm, encouraged Nigeria to submit project proposals through the Swedish Embassy or the Trade Commissioner to Business Sweden.

Westerholm assured that the proposals would be reviewed by the appropriate Swedish institution. The meeting also identified potential areas of cooperation, such as digital infrastructure, artificial intelligence, data centres, energy, transport, agriculture, and tourism. The Swedish delegation is prepared to assess proposals and match them with institutions capable of providing various forms of support, from financing and guarantees to technical assistance and investment.

The Swedish Export Credit Agency, EKN, has pledged to offer export guarantees and risk coverage to facilitate Swedish exports and participation in strategic projects within Nigeria. Additionally, the Swedish International Development Cooperation Agency expressed interest in providing technical assistance, infrastructure financing, and mobilising private capital.