FirstBank, the West Africa premier {financial} establishment and {financial} inclusion providers supplier, has strengthened its partnership with the United Nations Global Compact (UNGC) to reaffirm its dedication to driving sustainable finance and unlocking capital for improvement. This ongoing partnership was bolstered on the not too long ago concluded Fourth International Conference on Financing for Development (FfD4) hosted by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville, Spain.
The FfD4 Conference introduced collectively international leaders, policymakers, and personal sector specialists to debate progressive options to handle the rising SDG financing hole and unlock capital for improvement in fragile and underserved areas.
FirstBank’s Chief Risk Officer, Patrick Akhidenor, represented the {bank} on the convention and highlighted two FirstBank flagship initiatives driving resilience finance in Nigeria: The Solar Equipment Financing initiative and the revamped FirstGem Fund. The Solar Equipment Financing initiative affords tailor-made financing choices for the acquisition and set up of solar energy methods, making certain entry to wash, dependable, and inexpensive vitality options. The FirstGem Fund, a women-focused proposition, gives single-digit curiosity loans to girls entrepreneurs with out collateral necessities, concentrating on funding gaps in vital sectors.
‘’We are dedicated to driving sustainable finance and unlocking capital for improvement,” mentioned Patrick Akhidenor. “Our partnership with UNGC and participation in the FfD4 Conference demonstrate our dedication to innovative finance solutions that address the SDG financing gap.”
Sanda Ojambo, CEO of UNGC, emphasised the necessity for progressive, inclusive {financial} fashions for underserved areas. “The private sector must play a central role in shaping fit-for-purpose, scalable finance solutions,” she mentioned. “De-risking instruments and blended finance can assist unlock capital and drive significant influence.
FirstBank’s partnership with Development Finance Institutions (DFIs) and its SMEConnect hub reveal its capability to guide efforts in sustainable finance. The {bank} gives coaching, networking, and tailor-made financing to SMEs throughout varied sectors, together with schooling, healthcare, and retail
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