FirstBank Partners UN Global Compact to Advance Sustainable Finance, Bridge Development Funding Gap

 FirstBank Partners UN Global Compact to Advance Sustainable Finance, Bridge Development Funding Gap

Lagos, July 14, 2025 – In a bold step toward advancing sustainable finance and unlocking development capital, FirstBank, West Africa’s premier financial services provider, has deepened its partnership with the United Nations Global Compact (UNGC). The renewed commitment was solidified during the recently concluded Fourth International Conference on Financing for Development (FfD4), organized by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville, Spain.

The high-level conference convened global leaders, policymakers, and private sector stakeholders to explore innovative strategies to close the growing financing gap for the Sustainable Development Goals (SDGs), especially in vulnerable and underserved regions.

Representing FirstBank at the conference, the bank’s Chief Risk Officer, Patrick Akhidenor, spotlighted two of the institution’s flagship initiatives designed to promote resilience and inclusive growth in Nigeria — the Solar Equipment Financing initiative and the revamped FirstGem Fund.

According to Akhidenor, the Solar Equipment Financing initiative supports access to clean and reliable energy by providing customized loans for the purchase and installation of solar power systems. Meanwhile, the FirstGem Fund—a women-focused initiative—offers collateral-free, single-digit interest loans to female entrepreneurs, bridging the funding gap in critical sectors and promoting gender-inclusive development.

“We remain committed to sustainable finance as a catalyst for economic transformation,” Akhidenor stated. “Our partnership with the UNGC and active participation at FfD4 underscore our resolve to create impactful finance solutions that address development challenges and unlock capital for long-term growth.”

Also speaking at the conference, UNGC CEO Sanda Ojambo highlighted the crucial role of the private sector in reshaping financial systems for development. “Innovative and inclusive financing models are essential, particularly in fragile regions,” she said. “Blended finance and risk mitigation tools can play a transformative role in mobilizing investment and driving real-world impact.”

FirstBank’s efforts in sustainable finance extend beyond international conferences. The bank continues to collaborate with Development Finance Institutions (DFIs) and leverages platforms like its SMEConnect hub, which offers training, networking opportunities, and sector-specific funding to small and medium-sized enterprises across industries such as education, healthcare, and retail.

Through these strategic interventions, FirstBank is not only driving inclusive growth but also reinforcing its leadership in the region’s transition to a more sustainable and equitable financial future.