The Bank of Industry (BoI) has announced the implementation of an on-lending financing scheme through local financial institutions to support customers interested in adopting clean energy solutions. Dr. Olasupo Olusi, the Managing Director of BoI, disclosed this information at the ongoing Joint International CEO Forum of the Association of African Development Finance Institutions (AADFI) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) hosted by the Bank of Industry in Abuja.
Dr. Olusi, who is also the Chairman of the Association of Nigeria Development Financing Institutions, highlighted the significance of this year’s theme, “DFIs’ Strategic Role towards a Climate Smart Future,” given the world’s increasing vulnerability to climate change. He mentioned that BoI is actively involved in resourcing climate-friendly funds, including a recent credit line of £100 million secured from the French Development Agency to expand green finance in Nigeria.
In his statement, Dr. Olusi emphasized the importance of development finance institutions (DFIs) continuing to harness their convening power of partnerships and directing public and private investments towards clean and sustainable activities. He stressed the need for better coordination and harmonization of various climate initiatives among DFIs to achieve significant impact and economies of scale.
Chairman of the AADFI, Mr. Thabo Thamane, echoed the sentiment that DFIs must be better coordinated to build a climate-resilient economy. The forum provides a platform for collaboration and strategic discussions to address climate challenges and foster sustainable development.
