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FirstBank, a leading financial institution in West Africa and a champion of financial inclusion, has reaffirmed its commitment to sustainable development by strengthening its partnership with the United Nations Global Compact (UNGC).
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This renewed collaboration was spotlighted at the recently concluded Fourth International Conference on Financing for Development (FfD4), organized by the UN Department of Economic and Social Affairs (UN DESA) in Seville, Spain.
Supporting the UN’s Financing for Development Goals
The FfD4 Conference convened global leaders, development experts, and private sector innovators to explore strategies for bridging the Sustainable Development Goals (SDGs) financing gap. Discussions focused on unlocking capital for development in fragile, underserved, and climate-vulnerable regions.
FirstBank’s Chief Risk Officer, Patrick Akhidenor, who represented the bank at the event, highlighted two key initiatives under FirstBank’s sustainability framework:
- The Solar Equipment Financing Initiative: Offers accessible financing for solar power systems to promote clean, reliable energy solutions.
- The FirstGem Fund: A gender-focused financing program that provides women entrepreneurs with single-digit interest loans without collateral, helping close funding gaps in underserved sectors.
“We are committed to driving sustainable finance and unlocking capital for development. Our partnership with the UNGC and our active role at the FfD4 Conference highlight our focus on financial models that support resilience and inclusivity,” said Akhidenor.
UNGC Backs Inclusive Financial Innovation
Sanda Ojambo, CEO of the United Nations Global Compact, stressed the crucial role of private sector finance in meeting global development goals.
“We need innovative and inclusive financial mechanisms in underserved markets. Tools such as de-risking mechanisms and blended finance are essential to unlocking capital at scale and driving long-term impact,” she said.
FirstBank’s Broader Efforts in Sustainable Finance
FirstBank’s initiatives go beyond conference participation. Through its partnerships with Development Finance Institutions (DFIs) and its SMEConnect platform, the bank continues to deliver:
- Capacity building and training for entrepreneurs
- Tailored financing solutions across sectors like healthcare, education, and retail
- Networking opportunities that connect SMEs with growth-enabling resources
These strategic efforts align with the bank’s long-term mission to finance inclusive growth, promote renewable energy access, empower women entrepreneurs, and contribute meaningfully to Nigeria’s attainment of the UN SDGs.
