The Hellenic Development Bank, as a member of “The Montreal Group”, welcomed the Nigerian Development Bank

The Hellenic Development Bank (HDB) recently joined “The Montreal Group” (TMG), the leading organization of Development Banks with a common mission to strengthen entrepreneurship and especially Small and Medium-sized Enterprises (SMEs).

Participation in “The Montreal Group” places the EBA alongside some of the world’s most important development institutions.

“The Montreal Group” was founded in 2012, as an international non-profit organization, with the aim of promoting cooperation, mutual learning and the exchange of technical experience and practices between development banks that support entrepreneurship in their countries.

Its mission is to offer a global platform for collaboration and mutual learning, identifying innovative and sustainable solutions to the opportunities and challenges faced by SMEs around the world.

Its members come from 14 countries and five continents and include leading institutions such as Bpifrance (France), BNDES (Brazil), British Business Bank (UK), China Development Bank (China), Finnvera (Finland), SIDBI (India), Cassa Depositi e Prestiti (Italy), Nafin (Mexico), Development Bank of Nigeria (Nigeria), the Saudi Industrial Development Fund (SIDF) and the Business Development Bank of Canada (Canada).

With the inclusion of the EBA in “The Montreal Group”, Greece acquires an active presence in an organization that shapes international development finance practices.

High-level visit from Nigeria

As part of the exchange of best practice know-how, the Hellenic Development Bank welcomed from 5 to 7 May 2026, a delegation of high-ranking executives and members of the Board of Directors of the Development Bank of Nigeria (DBN) as well as representatives of the supervisory authority of the Central Bank of Nigeria.

DBN was established with the aim of alleviating the financial difficulties faced by Nigeria’s Small and Medium Enterprises by providing financing and partial credit risk guarantees through approved financial intermediaries.

The exchange of know-how is expected to mutually enrich both institutions, which, despite different geographical and economic conditions, share common principles and face similar challenges in SME financing.

The Chairman of the Board of Directors of the Hellenic Development Bank, George Zavvos, welcomed the Nigerian delegation saying:

“In a world that is becoming increasingly fragmented, Development banks have a unique role to play as links between public and private capital, between regions and between strategic priorities and real economic outcomes. Together we can build partnerships that go beyond dialogue and translate into real investments.”
The CEO of the EBA, Ismini Papakyrillou, underlined:

“The inclusion of the Hellenic Development Bank in “The Montreal Group” is an important recognition of the work carried out by the Hellenic Development Bank. The welcome of our colleagues from Nigeria is the best opportunity to prove that the Greek development model is a point of reference internationally, and at the same time to enrich our own practices from the experience of an institution that finances hundreds of thousands of businesses in one of Africa’s largest economies.”