BoI secures £100m energy financing scheme

The Bank of Industry (BoI) has revealed that it is currently implementing an on-lending fi nuancing scheme through local financial institutions to support customers interested in adopting clean energy solutions. Managing director of the bank, Dr Olasupo Olusi, disclosed this yesterday at the ongoing Joint International CEO Forum of the Association of African Development Finance […]

The Bank of Industry (BoI) has revealed that it is currently implementing an on-lending fi nuancing

scheme through local financial institutions to support customers interested in adopting clean energy solutions.

Managing director of the bank, Dr Olasupo Olusi, disclosed this yesterday at the ongoing Joint International CEO Forum of the Association of African Development Finance Institutions (AADFI) and the Association of Development Financing Institutions in Asia and the Pacifi c (ADFIAP) hosted by the Bank of Industry in Abuja.

Olusi who is also the Chairman, Association of Nigeria Development Financing Institutions, said this year’s theme, “DFIs’ Strategic Role towards a Climate Smart Future” was strategic due to the world’s

increasing vulnerability to climate change. “At BoI, we are very active in resourcing climate friendly

funds, including the recent credit line of 100 million Euros secured from the French Development

Agency for the expansion of green finance in Nigeria.

“To build a climate resilient economy in developing countries, DFIs must continue to harness their convening power of partnerships and channel public and private investments towards clean and sustainable activities. We must be better coordinated in harmonising our various climate initiatives to ensure signifi cant impact and achievement of economies of scale,” he stated. Also, the Chairman of

the AADFI, Mr Thabo Thamane, explained that to build a climate-resilient economy, DFIs must be better coordinated in harmonising its various climate initiatives.