By Sophan Niwamanya
apearlnews.com
aBi Finance Ltd. has partnered with the Uganda Institute of Banking and Financial Services (UIBFS) to train bankers on how to identify and fund green projects.
Speaking during the training session for the Kigezi region at the White Horse Inn Kabale Municipality, Paul Mugerwa, a climate finance specialist from the UIBFS, revealed that it’s high time the financial sector was made aware of the global issue of climate change, which is threatening mankind.
We are all aware of what is going on in the world. The climate crisis has ravaged our lives and economies. A significant percentage of our GDP is lost to this crisis through droughts and floods. We therefore need the banking system and bankers to understand the challenges brought about by climate change and how to mitigate them by integrating it within their product offerings.”
Last year, Bi Finance Limited released Shs120 billion to over 30 financial institutions around the country to support environmentally friendly projects aimed at mitigating climate change.
Speaking today, Noah Owomugisha, the head of green growth and business development services at aBi Finance Limited, said that the training is aimed at preparing bankers to consider environmental, social, and governance aspects in their operations.
He added that this involves internalizing environmental externalities and adjusting risk perceptions in order to boost environmentally friendly investments and reduce environmentally harmful ones.
Atukunda Amon Kaakiiza, Loans Officer at Centenary Bank Kabale branch, noted that this will help their clients get loans, get knowledge on how to conserve the environment, and boost household income.
