FirstBank Partners UNGC for Sustainable Finance

FirstBank Partners UNGC for Sustainable Finance

By prince Benson Davies

FirstBank, West Africa’s premier financial institution, has reinforced its partnership with the United Nations Global Compact (UNGC). This collaboration underscores FirstBank’s commitment to driving sustainable finance and unlocking capital for development. The partnership was highlighted at the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain.

At the conference, FirstBank’s Chief Risk Officer, Patrick Akhidenor, spotlighted two key initiatives:
– Solar Equipment Financing: Offers tailored financing for solar power systems, promoting clean and affordable energy.
– FirstGem Fund: Provides single-digit interest loans to women entrepreneurs without collateral, targeting funding gaps in critical sectors.

Patrick Akhidenor emphasised, “We are committed to driving sustainable finance and unlocking capital for development.” Sanda Ojambo, CEO of UNGC, stressed the importance of innovative financial models for underserved regions.

Key Aspects of Partnership
– Sustainable Finance Leadership: FirstBank’s partnership with Development Finance Institutions (DFIs) and the SMEConnect hub demonstrates the capacity to lead in sustainable finance.
– Support for SMEs: Training, networking, and tailored financing for SMEs in sectors like education, healthcare, and retail.