The Bank of Industry (BOI) and the French Development Agency (AFD) have signed a grant agreement for €2.5 million, delegated by the Green Climate Fund (GCF), to boost their partnership to fight climate change in Nigeria.
France has committed more than €1.5 billion to the Green Climate Fund since 2019 and on 23rd August 2022, BOI and AFD signed a €100 million credit line for the expansion of green finance in Nigeria. This was approved under AFD’s Transforming Financial Systems for Climate (TFSC) Programme with the Green Climate Fund (GCF), a $650 million programme developed in 17 countries for 100 per cent climate investment projects.
The TFSC Programme focuses on financing investments that contribute to climate change mitigation or adaptation; specifically projects focused on renewable energy, low carbon and efficient energy generation, climate-smart agriculture technologies, clean urban transportation and others.
