and the French Development Agency have signed a grant agreement for €2.5 million, delegated by the Green Climate Fund , to boost their partnership to fight climate change in Nigeria.
The TFSC Programme focuses on financing investments that contribute to climate change mitigation or adaptation; specifically projects focused on renewable energy, low carbon and efficient energy generation, climate-smart agriculture technologies, clean urban transportation and others. The objective is to build the capacity of BoI, thereby providing tools for the effective identification and development of eligible bankable climate-related projects as well as improving the readiness of the bank’s customers to implement green practices in their operations.
“Given the serious threat that climate change poses to equitable and sustainable development in Nigeria, it is critical for us at BOI to take the lead in mobilising capital for green and sustainable investment. In addition to the line of credit, the €2.5 million Technical Assistance funds will support capacity building for BOI and its customers, thereby enabling the scaling of current efforts by BOI towards climate change mitigation and adaptation.
That should be the last fight amongst things to be fought in Nigeria.
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