Oluchi Chibuzor
Stakeholders at the just concluded 9th Edition of the Africa Green Finance (AGF) Conference have stressed the need to provide more expertise on Green Guarantee Facility and how it enables banks on-lend to green and climate-smart projects on the continent.
This, according to them, would boost small and medium-sized enterprises across the continent hence the theme, “The Role of Africa’s Private Sector in The Paris Agreement on Climate Change.”
Speaking at the end of the conference, the AGF Group Chief Executive Officer, Jules Ngankam said the green finance conference was a crucial response to the challenges posed by climate change.
He said there must be 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.
He said, “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. 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.”Commenting the NDF Managing Director, Satu Santala said, they are committed to financing green and inclusive low-carbon and climate resilient growth of African economies.
According to Santala, this would improve the livelihood of communities, noting partnerships are at the core of NDF’s approach to climate finance.
“The African private sector plays a pivotal role in climate action and creating employment”, Santala said.
President of the Chartered Institute of Bankers of Nigeria, Dr. Kenneth Opara, stressed the important role the private sector plays in climate change in the Paris Agreement.
According to him, ’We hope that climate change efforts will unlock new opportunities for green growth and job creation, ranging from renewable energy and clean technology to sustainable agriculture.”
For the Special Adviser to The Lagos State Government on Climate Change and Circular Economy, Mrs. Titilayo Oshodi, speaking on behalf of the Secretary to the State Government noted the need for more awareness of the effects of climate change.