The Bank of Industry (BOI) has successfully secured a credit line of €100 million from the French Development Agency (AFD) to drive the expansion of green finance initiatives in Nigeria.
This strategic move aligns with the bank’s commitment to supporting environmentally friendly and sustainable projects across key sectors of the economy, in line with the vision of President Bola Ahmed Tinubu for a climate-smart Nigeria.
Dr. Olasupo Olusi, the Managing Director and Chief Executive of the Bank of Industry, shared this development at the Joint International Chief Executive Officers (CEO) forum organized by the Association of African Development Finance Institutions (AADF) and the Association of Development Financing Institutions in Asia and the Pacific (ADFAP). The forum, held in Abuja, centered around the theme: “DFIs’ Strategic Role Towards a Climate Smart Future.”
BOI, as Nigeria’s leading Development Finance Institution (DFI), has been actively driving a developmental strategy aimed at accelerating the country’s growth through support for environmentally sustainable projects. Over the last five years, the bank has collaborated with partners to secure over $5 billion from various International Financial Institutions.
This infusion of €100 million from AFD is expected to further strengthen BOI’s efforts in fostering green finance initiatives, promoting environmentally responsible projects, and contributing to Nigeria’s transition to a climate-smart economy.
The forum, which drew participants from around the world, provided a platform for discussing the strategic roles of DFIs in shaping a sustainable and climate-resilient future.