The Development Bank of Nigeria (DBN) has obtained accreditation from the Green Climate Fund (GCF), opening doors for green financing to enhance Nigeria’s manufacturing sector and other critical areas.
Tony Okpanachi, DBN’s Managing Director, highlighted that this accreditation is a major boost for Nigeria’s climate resilience efforts, tackling issues like desertification, shifting rainfall patterns, and flooding.
This new accreditation will advance sustainable development and foster environmentally friendly technologies across multiple sectors, including agriculture, healthcare, and transport. It allows DBN to create and oversee climate-related projects, deploy financial tools such as concessional loans, and mobilize private sector funding.
The GCF accreditation encompasses various essential standards, including fiduciary and environmental safeguards for medium-sized projects. At the recent 2024 DBN Techpreneur Summit 3.0 in Lagos, DBN also offered tech entrepreneurs financing opportunities, demonstrating its dedication to innovation and sustainability.
