The Federal Government, through the Bank of Industry, plans to implement an on-lending financing scheme to support the adoption of clean energy solutions.
This was disclosed by the MD/CEO of BoI, Dr Olasupo Olusi, at the ongoing AADFI-ADFIAP Joint CEO Forum in Abuja on Thursday.
Olusi noted the need to ensure that institutions are resilient enough to attract affordable long-term finance through which green projects can be implemented.
It is globally recognised that there is an opportunity for climate change mitigation and adaptation to become a primary driver of economic growth, and development finance institutions (DFIs) can become the vehicles for this change.
In his welcoming remark, Olusi noted the significant effects of climate change, stressing the role of development finance institutions.
He also disclosed that the BoI’s project portfolio reflects a significant investment in renewable energy projects. The banks seek to contribute to the continental ambition of 27% of renewable power generation by 2030.
On how much has been raised in the past five years, he said:
While AADFI stands for Association of African Development Finance Institutions, AADFIAP stands for Association of Development Financing Institutions in Asia & the Pacific.
The forum gathers development finance institutions from Africa, Asia, and the Pacific, covering 33 countries across four continents.