The Development Bank of Nigeria clinched the prestigious 2022 Arab Gulf Programme for Development Prince Talal International Prize for Human Development, securing the top spot in the ‘Sustainable Development Goal 8 – Decent Work and Economic Growth’ category.
Outperforming more than 100 competing projects, the bank earned the coveted grand prize of $400,000.
The award recognized applicants who showcased how their initiatives fostered decent work and spurred economic growth in their communities, aligning with the global commitment of achieving Sustainable Development Goal 8 by 2030.
During the award ceremony at COP28 in Dubai, Dr. Tony Okpanachi, the Managing Director and Chief Executive Officer of DBN, attributed the success to the bank’s unwavering dedication to global green and sustainability initiatives.
He expressed excitement about the grant, highlighting its harmony with DBN’s mission to be a leading development finance institution, fostering growth through MSME finance and driving sustainable socio-economic development in Nigeria’s technology, agriculture, health, education, and job creation sectors.
Acknowledging the AGFUND’s Prince Talal International Prize organizers and international partners, Okpanachi emphasized the funds’ pivotal role in addressing identified financing gaps in the MSME segment and enhancing capacity for impactful, viable, and financially sustainable green projects.
Regarding Green Financing in Nigeria, Okpanachi underscored the nation’s need for approximately $122 billion by 2030 to advance the green sector and achieve Sustainable Development Goals. He emphasized DBN’s role in spearheading efforts to bridge funding gaps and drive sustainable investment in Nigeria.
