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The Managing Director/CEO, Bank
of Industry (BoI), Dr. Olasupo Olusi yesterday called for the need to close the
financing gap on global surge in renewable energy investments, energy-efficient
projects, sustainable infrastructure, and other environmentally friendly
initiatives.
Olusi made the call at the Joint
International CEO Forum 2023 in partnership with African Financial Alliance on
Climate Change, Making Finance Work for Africa, African Development Fund,
Financing Sustainable Development in Abuja, as he states that the institutions
should be resilient enough to attract affordable long-term finance through
which it can implement green projects.
"At BoI, we are very active
in resourcing climate-friendly funds, including the recent credit line of 100
million Euros secured from the French Development Agency (AFD) for the expansion
of green finance in Nigeria.
“The bank is also currently
implementing an on-lending financing scheme through local financial
institutions to support customers interested in adopting clean energy
solutions.
"We will continue to seek
funding partners to complement our climate change agenda. We must also make
Stronger Climate Commitments. To outpace the far-reaching effects of climate
change, we as DFIs need to accelerate our own progress and increase our climate
ambition. We need to hold ourselves accountable to commitments that are backed
up with action.
"The Bank is also signatory
to the world’s foremost sustainability frameworks and are committed to
mobilizing finance for sustainable development. Tapping into Our Renewable
Energy Powerhouse Potential, several emerging economies have a huge potential
for renewable energy and clean hydrogen due to our natural resources, bio-diversity
and youthful population."
The Chairman, CEO of Citizen
Entrepreneurial Development Agency Botswana (CEDA), Thabo Thamane said reports
predict that if strategic actions are not taken to combat climate change, the
world economy will lose more than 18per cent of its current GDP by 2048, and
the least developed countries, particularly those in Africa, Asia-Pacific, and
Latin America, will suffer the worst consequences.
Courtesy: The Nation
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