Nigeria Business & Finance Updates

DBN drives beneficial lending

DBN drives beneficial lending

the Development Bank of Nigeria says it is committed to driving sustainable development by ensuring that lending is done with the interest of the environment and social well-being of the people.

It said this in a statement when it held a capacity-building programme on environmental and social risk management practice for top executives of microfinance banks in Lagos, as part of its advocacy initiatives.

The Managing Director, DBN, Tony Okpanachi, said, “In fulfilling our mandate of increasing access, Development Bank of Nigeria Plc is poised to not only be change drivers but a strong ally partnering participating financing institutions to drive sustainable development by ensuring that lending is done with the interest of the environment and social well-being of the people.”

The managing director, who was represented by the Chief Operating Officer of the bank, Bonaventure Okhaimo, stated that the workshop was a follow-up to the feedback received from a training programme organised in 2018 for middle level managers of microfinance banks by the DBN.

He urged the participants as leaders of their institutions to take advantage of the lessons from the workshop to ensure improved compliance as well as best practice in environmental and social risk management principles.

According to the statement, the session highlighted strategies on identification, measurement and mitigation of environmental and social risks in project financing from policy and strategic point of view.

It also exposed participants to measures of developing environmental and social risk footprints in areas of resource efficiency, reducing carbon emission and other sustainable banking initiatives.

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