Follow Us on Google
The Development Bank of Nigeria (DBN) Plc has taken steps to expand access to climate finance for Micro, Small and Medium Enterprises (MSMEs) through a proposed programme aimed at supporting low-carbon development and climate resilience.
As part of its engagement with the Green Climate Fund (GCF), the bank recently organised a stakeholder consultation on its proposed initiative, titled “Unlocking Climate Finance at Scale: MSME Low-Carbon Transition and Agricultural Resilience in Nigeria.”
The programme features a Climate Finance Facility alongside a technical assistance component for participating financial institutions and MSMEs. It is designed to drive investments in climate-resilient and low-carbon projects, with climate-smart agriculture and renewable energy identified as priority sectors. Other areas of focus include energy efficiency and low-carbon transportation.
DBN said the initiative is expected to directly benefit more than 50,000 MSMEs over a five-year period, with a strong focus on women-led enterprises and smallholder farmers operating in climate-vulnerable sectors.
Other News
The consultation brought together representatives of the Federal Government, regulatory agencies, development partners, financial institutions, private sector organisations, MSME associations and civil society groups. Stakeholders provided feedback intended to strengthen the programme’s design and reinforce national ownership of the initiative. Speaking at the event, DBN Executive Director, Mrs. Ijeoma D. Ozulumba, reiterated the bank’s commitment to advancing climate finance as part of its development mandate.
She said DBN is determined to ensure Nigerian MSMEs are well-positioned to benefit from the global transition to a low-carbon and climate-resilient economy, adding that stakeholders’ contributions would help shape a credible and impactful programme for submission to the Green Climate Fund.
According to the bank, the initiative aligns with Nigeria’s Nationally Determined Contributions (NDC 3.0), which prioritise climate-smart agriculture, resilient livelihoods and increased climate finance mobilisation. DBN noted that the programme marks an important step towards placing Nigerian MSMEs at the centre of the country’s inclusive low-carbon transition.
