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February 27, 2024

DBN Wins $400000 AGFUND Award For Green Finance in Nigeria

The Development Bank of Nigeria (DBN) has secured the prestigious 2022 Arab Gulf Program for Development (AGFUND) Prince Talal International Prize for Human Development, accompanied by a grand prize of $400,000. 

The win shows DBN’s outstanding efforts in advancing Sustainable Development Goal 8 (SDG8) – “Decent Work and Economic Growth.”

Having done over 100 projects in a competitive field, DBN’s victory underscores its unwavering commitment to promoting decent work and fostering economic growth within the Nigerian.

Managing Director/CEO of DBN, Dr. Tony Okpanachi attributed the award to the Bank’s unwavering commitment to the global drive on green and sustainability.

“At DBN, we are excited about this grant, because it aligns with the agenda and aspirations of the Bank to become the primary development finance institution promoting growth through MSME finance and accelerating sustainable socio-economic development in technology, agriculture, health, education, and job creation in Nigeria.” He said.

Acknowledging the AGFUND’s Prince Talal International Prize and international partners, Dr. Okpanachi highlighted the transformative impact of the funds, poised to address identified financing gaps in the MSME segment and develop capacity for ideation, development, financing, and management of impactful, viable, and financially sustainable green projects.

Speaking on Nigeria’s green financing landscape, Dr. Okpanachi underscored the nation’s need for approximately $122 billion from now till 2030 to advance the green sector and achieve Sustainable Development Goals.

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