FirstBank Partners UNGC To Bridge SDG Financing Gap

As part of its commitment to driving sustainable finance and unlocking capital for development, FirstBank has strengthened its partnership with the United Nations Global Compact (UNGC) by providing capital for solutions that address the sustainable development goals..

The commitment was reaffirmed when the FirstBank’s chief risk officer, Patrick Akhidenor, represented the bank 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, Spain.

Akhidenor highlighting FirstBank flagship initiatives driving resilience finance in Nigeria, mentioned the Solar Equipment Financing initiative and the revamped FirstGem Fund, which offers tailored financing options for the purchase and installation of solar power systems, ensuring access to clean, reliable, and affordable energy solutions.

He also highlighted the FirstGem Fund, a women-focused proposition, which provides single-digit interest loans to women entrepreneurs without collateral requirements, targeting funding gaps in critical sectors.

“We are committed to driving sustainable finance and unlocking capital for development. Our partnership with UNGC and participation in the FfD4 Conference demonstrate our dedication to innovative finance solutions that address the SDG financing gap.” He stated.

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Chief Executive of UNGC, Sanda Ojambo, emphasised the need for innovative, inclusive financial models for underserved regions, saying “the private sector must play a central role in shaping fit-for-purpose, scalable finance solutions. De-risking tools and blended finance can help unlock capital and drive meaningful impact.”

FirstBank’s partnership with Development Finance Institutions (DFIs) and its SMEConnect hub demonstrate its capacity to lead efforts in sustainable finance. The bank provides training, networking, and tailored financing to SMEs across various sectors, including education, healthcare, and retail.

The FfD4 Conference brought together global leaders, policymakers, and private sector experts to discuss innovative solutions to address the growing SDG financing gap and unlock capital for development in fragile and underserved regions.