FirstBank deepens UN partnership for sustainable finance

FirstBank deepens UN partnership for sustainable finance

 

FirstBank, West Africa’s premier financial institution and a leader in financial inclusion, has reinforced its commitment to sustainable finance by strengthening its partnership with the United Nations Global Compact (UNGC).

The move aims to accelerate access to capital and close the funding gap hindering sustainable development across Africa.

This renewed alliance was highlighted at the Fourth International Conference on Financing for Development (FfD4), hosted by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville. The global gathering brought together policymakers, development experts, and private sector leaders to explore innovative financial solutions for achieving the Sustainable Development Goals (SDGs).

Representing FirstBank at the summit, Patrick Akhidenor, the bank’s Chief Risk Officer, spotlighted two of the bank’s flagship initiatives:

Solar Equipment Financing: Tailored loans for solar power systems to promote clean, affordable, and reliable energy access.

FirstGem Fund: A women-focused fund offering single-digit interest loans without collateral, designed to bridge gender-based financing gaps in critical sectors.

“Our partnership with UNGC and active role at FfD4 reflect our dedication to closing the SDG financing gap through practical, inclusive, and scalable financial solutions,” said Akhidenor.

UNGC CEO Sanda Ojambo echoed this sentiment, stressing the need for private sector innovation in de-risking and financing underserved communities.

FirstBank’s broader strategy in sustainable finance includes collaborations with Development Finance Institutions (DFIs) and its SMEConnect hub, which supports small businesses with capacity-building, networking, and tailored funding across sectors such as healthcare, education, and retail.