The African Development Bank (AfDB) is set to roll out the first green finance facilities in two public financial institutions in Benin and Côte d’Ivoire as part of its ground-breaking African Green Bank initiative. The host institutions are La Caisse des Dépôts et Consignations du Bénin (CDC Benin) and the Ivorian National Investment Bank (BNI).As Africa’s premier development finance institution, the AfDB does not only provide fiscal resources to its regional member countries; it also galvanizes global support in promoting resilient, green, and sustainable growth.

Launched in November 2022, the African Green Bank Initiative seeks to support the implementation of African countries’ Nationally Determined Contributions (NDCs).Further, the Initiative is set to bolster the capacity of local financial institutions to build a robust pipeline of bankable green projects while de-risking investments and entrenching long-term investor confidence toward climate-resilient and low-carbon projects in Africa.