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April 17, 2024
AgroNigeria
News

AGF, NDF Partner to Promote Green Financing 

The 9th Edition of the Green Finance Conference, co-hosted by the African Guarantee Fund (AGF) and the Nordic Development Fund (NDF), served as a platform for stakeholder dialogue. It showcased the significant contributions Green SMEs can make to Nigeria’s economy.

The conference also aimed to enhance understanding of AGF’s Green Guarantee Facility and its role in facilitating bank loans for green and climate-smart projects. Themed “The Role of Africa’s Private Sector in the Paris Agreement on Climate Change,” the event brought together government officials, financial institution executives, regulatory policy experts, and Green SMEs to explore green sector synergies.

During the Opening Ceremony, Jules Ngankam, AGF Group Chief Executive Officer, highlighted the Green Finance Conference’s importance as a strategic response to climate change challenges. He emphasized its alignment with National Determined Contributions (NDCs) and its focus on offering specialized knowledge to Africa. The conference also aimed to present actionable solutions for financing small and medium-sized enterprises (SMEs) dedicated to green growth and climate-resilient development.

“Our aim is to support banks in improving, increasing, or developing their green portfolios,” Jules said. “Through the combination of our Green Guarantee and Capacity Development support, we can bridge the knowledge gap between both financial institutions and their customers. This benefits not only SMEs, who will understand the lending process better, but also financial experts, who can learn to provide solutions tailored to SME needs.”

Backed by NDF’s support, AGF has been able to support financial institutions through its risk-sharing mechanism. This is crucial for 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 for African economies, ultimately improving the livelihoods 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 job creation.”

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