- With its partners, BoI raised over $5 billion from several international financial institutions in the last five years.
- The bank seeks to contribute to the continental ambition of 27% of renewable power generation by 2030.
The Bank of Industry (BoI) has disclosed plans to implement an on-lending financing scheme to support adopting clean energy solutions. The MD/CEO of BoI, Dr Olasupo Olusi, said this at the AADFI-ADFIAP Joint CEO Forum in Abuja on Thursday, stating the need to ensure institutions are resilient enough to attract affordable long-term finance to implement green projects.
The MD said, “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 (AFD) to expand green finance in Nigeria. The bank is also implementing an on-lending financing scheme through local financial institutions to support customers interested in adopting clean energy solutions. We will continue to seek funding partners to complement our climate change agenda.” BoI is Nigeria’s leading development finance institution. One of the primary drivers of BoI’s developmental strategy is accelerating Nigeria’s development by supporting environmentally friendly and sustainable projects across the key sectors of the economy.
On the bank’s project plan, Olusi said the BoI’s portfolio reflects a significant investment in renewable energy projects. The bank seeks to contribute to the continental ambition of 27 per cent of renewable power generation by 2030. He added, “BOI has worked with our partners to raise over $5 billion from several international financial institutions in the last five years. We intend to leverage our extensive partnership to raise the resources required for building a climate-smart Nigeria, in line with our President’s vision.”