The Bank of Industry is set to disburse €100m to support the expansion of Green Energy and the creation of a climate-friendly environment to foster economic growth in Nigeria.
This financial backing, secured from the French Development Agency, is dedicated to fostering an eco-friendly environment for enhanced economic prosperity in Africa and Asia.
Dr Olasupo Olusi, the Chief Executive Officer of the Bank, disclosed this in Abuja during the Joint CEOs Forum of the Association of African and the Association of Development Financial Institutions of Asia.
Dr Olusi stated that the Bank has already begun implementing a lending financing scheme through local banks to support Nigerians interested in adopting clean energy solutions.
Stressing the need for collaboration among member-nations, Dr Olusi called for joint efforts to invest in renewable energy that will create a climate-resilient economy for African and Asian nations.
Mr Thabo Thamane, Chairman of AADFI, warned that the world economy could lose more than 18% of its current GDP by 2048 if strategic actions are not taken to combat climate change.
He underscored the severe consequences that least developed countries, particularly those in Africa, Asia-Pacific, and Latin America, could face.
Emmanuel Tutuba, the Governor of the Bank of Tanzania, noted the significance of the gathering in contributing to the improvement of the economies of both continents.
Dr Doris Uzoka-Anite, Nigeria’s Minister of Industry, Trade and Investment, who was represented by the Director of Human Resources in the Ministry, Mimia Abo, assured participants that the government would explore numerous opportunities embedded in renewable energy for the rapid development of Nigeria.
Reporting by Victoria Chimezie; Editing by Oluwaseyi Ajibade, Julian Osamoto and Tony Okerafor
Source: RadioNigeria