The African Guarantee Fund (AGF), in collaboration with the Nordic Development Fund (NDF), hosted the 9th Edition of the Green Finance Conference.
The event provided a platform for all stakeholders to dialogue and showcase the many advantages that Green SMEs can contribute to the economy of Nigeria.
It was also meant to strengthen their understanding of AGF’s Green Guarantee Facility and how it enables banks on-lend to green and climate-smart projects.
The event, held under the theme: “The Role of Africa’s Private Sector in The Paris Agreement on Climate Change”, brought together Government representatives, senior executives of financial institutions, key regulatory-policy stakeholders, and Green SMEs to discuss green synergies.
Speaking at the Opening Ceremony, AGF Group Chief Executive Officer, Jules Ngankam emphasized that the Green Finance Conference is a crucial response to the challenges posed by climate change within a framework of National Determined Contributions (NDC) with a focus on providing enhanced expertise to Africa while proposing practical solutions to addressing financing for smaller and medium-sized enterprises committed to green growth and climate-resilient development.
“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. This is not only for the SMEs to understand how the lending process works, but also for the financial experts to learn how they can provide solutions tailored to suit the needs of the SMEs,” Jules said.
Backed by NDF’s support, AGF has been able to support financial institutions through its risk-sharing mechanism, which is crucial to incentivizing banks to provide climate finance to SMEs. 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. Partnerships are at the core of NDF’s approach to climate finance and the African private sector plays a pivotal role in climate action and creating employment.”
