African Guarantee Fund to support Nigerian banks on green finance

The African Guarantee Fund (AGF), in collaboration with the Nordic Development Fund (NDF), has concluded plans to support banks to improve and develop their green portfolios towards achieving the Paris Agreement on Climate change.

AGF Group Chief Executive Officer, Jules Ngankam stated this at the 9th Edition of the Green Finance Conference with the theme: “The Role of Africa’s Private Sector in The Paris Agreement on Climate Change.”

The Green Finance Conference provided a platform for all stakeholders to dialogue and showcase the many advantages that Green SMEs can contribute to the economy of Nigeria, while strengthening their understanding of AGF’s Green Guarantee Facility and how it enables banks on-lend to green and climate-smart projects.

Ngankam emphasised that the Green Finance Conference was a crucial response to the challenges posed by climate change.

“Our aim is to support the banks to improve, increase or develop their green portfolios.  Through the combination of our Green Guarantee and Capacity Development support, we are able to bridge the knowledge gap between both financial institutions and their customers.”

NDF Managing Director, Satu Santala said, “We are committed to financing green and inclusive low-carbon and climate resilient growth of African economies to improve the livelihood of communities.