FirstBantk Partners with UNGC to Promote Sustainable Finance and Unlock Capital for Development
FirstBank, West Africa’s leading financial institution and advocate for financial inclusion, has reinforced its partnership with the United Nations Global Compact (UNGC) to reaffirm its dedication to advancing sustainable finance and mobilising capital for development. This strengthened alliance was publicly highlighted during the recently held Fourth International Conference on Financing for Development (FfD4), organised by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville, Spain.
The FfD4 conference convened global leaders, policymakers, and private sector representatives to explore innovative approaches to bridge the SDG (Sustainable Development Goals) financing gap and facilitate investment in fragile and underserved regions.
Representing FirstBank at the event, Chief Risk Officer Patrick Akhidenor showcased two flagship initiatives aimed at fostering resilience finance in Nigeria: the Solar Equipment Financing programme and the redesigned FirstGem Fund. The Solar Equipment Financing scheme offers customised funding solutions for the purchase and installation of solar power systems, promoting access to clean, reliable, and affordable energy. Meanwhile, the FirstGem Fund, a women-centric initiative, provides loans at single-digit interest rates to women entrepreneurs without collateral, targeting vital sectors where funding gaps persist.
“We are committed to championing sustainable finance and unlocking capital for development,” stated Akhidenor. “Our partnership with UNGC and participation in the FfD4 conference reflect our resolve to develop innovative financial solutions that address the SDG financing shortfall.”
Sanda Ojambo, CEO of UNGC, highlighted the importance of creating innovative, inclusive financial models tailored to underserved regions. “The private sector must take a central role in designing scalable, fit-for-purpose financial solutions,” she said. “Tools such as de-risking mechanisms and blended finance are vital to unlocking capital and delivering meaningful impact.”
FirstBank’s collaborations with Development Finance Institutions (DFIs) and its SMEConnect hub exemplify its leadership in sustainable finance. The bank offers specialised training programmes, networking opportunities, and customised financing options to small and medium-sized enterprises (SMEs) across sectors including education, healthcare, and retail, supporting inclusive economic growth.