Officials from the Development Bank of Nigeria (DBN) recently completed a five-day study visit to the African Development Bank (AfDB) in Abidjan, Côte d’Ivoire.
The visit, between May 5 and May 8, 2025, aimed to learn from AfDB’s expertise in integrating climate change and sustainability into financial operations.
The Climate Change and Green Growth Department and the Financial Sector Development Department of AfDB hosted the delegation of eight DBN officials.
During the visit, they shared valuable insights and best practices that will aid in managing climate-related risks and exploring opportunities in green investments, an area of growing importance for African financial institutions.
Africa is highly vulnerable to climate change, with losses from its effects expected to reach up to $50 billion annually by 2030. However, the continent also offers substantial opportunities for sustainable investments, thanks to its natural resources such as land, minerals, and renewable energy potential.
Mobilising domestic capital for long-term sustainable development is essential to realising this potential. Public development banks play a crucial role in redirecting capital toward priority sectors by de-risking sustainable investments.
Batchi Baldeh, Director of Power Systems Development at AfDB and a DBN board member noted the importance of these targeted investments in fostering job creation and driving resilient development across Africa.
The African Development Bank has also been working with regional institutions through the African Financial Alliance on Climate Change (AFAC), offering technical assistance to help them navigate climate-related risks and promote green job creation.
Dr. Anthony Nyong, Director of the Climate Change and Green Growth Department, stated the Bank’s commitment to strengthening partnerships with African institutions through its Ten-Year Strategy, which aims to expand access to concessional financing and deepen regional collaborations.
Ahmed Attout, Director of the Financial Sector Development Department, emphasised DBN’s vital role in providing access to finance for underrepresented groups such as women and youth in Nigeria.
He noted that the study visit reinforced the partnership between DBN and AfDB and will open up further opportunities for collaboration in the future.
Jeremiah Dan-Okayi, DBN’s Head of Strategy and Policy, welcomed the visit, calling it timely to advance its green finance strategy.
The collaboration, he said, would help DBN play a stronger role in building a more resilient and inclusive financial system in Nigeria.
