DBN Launches $275 Million Climate Finance Programme for MSMEs

The Development Bank of Nigeria (DBN) has taken a significant step towards promoting sustainable business practices in Nigeria with the launch of a new $275 million climate finance programme. According to a report by Tribune Online, this initiative aims to provide affordable, long-term funding for micro, small and medium enterprises (MSMEs) across the country. The funding will be targeted at businesses that prioritize climate-friendly practices, such as renewable energy solutions, energy-efficient technologies, and sustainable agriculture. This move is expected to not only boost the growth of these eco-friendly businesses but also contribute to Nigeria’s efforts in mitigating the effects of climate change. The DBN, which was established in 2017 to address the gap in financing for MSMEs in Nigeria, has so far disbursed over N1.3 trillion to more than 330,000 businesses. The new climate finance programme is part of the bank’s strategy to further support the growth of MSMEs, especially those that are contributing to a greener and more sustainable economy.