The Federal Government, through the Development Bank of Nigeria has launched a $275m climate finance programme to help micro, small and medium-sized enterprises invest in renewable energy, climate-resilient agriculture and other low-carbon business operations.
The initiative, known as the DBN Enterprise Lending for Transition and Adaptation Programme, is designed to address the financing challenges preventing small businesses from adopting climate-friendly technologies and strengthening their resilience to extreme weather conditions.
The programme, unveiled on the sidelines of the 31st United Nations Climate Change Conference in Türkiye, is expected to mobilise affordable, long-term financing, including a $100m contribution from the Green Climate Fund.
It is also projected to benefit approximately 1.3 million people and reduce greenhouse gas emissions by an estimated 4.5 million tonnes of carbon dioxide equivalent.
Speaking at the launch on Friday, the Managing Director and Chief Executive Officer of DBN, Tony Okpanachi, said the initiative represented an expansion of
This post was originally published on this site.
