14 SEPTEMBER 2021 | KAMPALA
Equity Bank in partnership with the Uganda Green Enterprise Finance Accelerator (UGEFA) takes a major step in expanding their green finance portfolio during the official partnership launch on Monday, 14th September 2021 at the Serena Hotel from 07:30AM – 10:00AM EAT.
As a UGEFA Partner, Equity Bank will benefit from privileged access to the UGEFA pipeline of 200+ green small- and medium-sized enterprises (SMEs) graduating from the 6-month finance-focused UGEFA Catalyser programme for business development. Equity Bank alongside other UGEFA Partner Banks will deliver 6.1 million USD in debt financing by 2023 to green SMEs across sectors.
Green finance is blossoming. Globally, the green bond market could be worth $2.36 trillion by 2023. It is regarded as a way of meeting the needs of environmentalism and capitalism simultaneously (We Forum Agenda, 2021)
The consequences of the COVID-19 outbreak have reminded us about our fragile relationship with nature. Climate change remains our biggest threat in the long-term. The recovery from the COVID-19 pandemic should focus minds and reinforce our joint commitment to a global green transition (European Commission, October 18th, 2020).
“With the glaring negative effects of climate change affecting the entire world, protection of the environment and sustainable use of our natural resources is key to all our interventions. We believe that the battle of environmental protection cannot be won by government alone. Equity, a financial corporate is cognizant to its role in sustainable financing and strategically provides its infrastructure and expertise, to accelerate and scale programs and projects aimed at protecting our planet,” Eric Naivasha, Associate Director, Equity Group Foundation.
“The UGEFA team is excited about the partnership with Equity Bank. In order to achieve extensive economic growth, we need to blend development finance and commercial finance. Our Partnership with Equity Bank demonstrates that Financial Institutions are committed to sustainable economic growth," Eddie Sembatya, Programme Lead, UGEFA.
The Uganda Enterprise Finance Accelerator (UGEFA) is funded fully by the European Union Delegation to Uganda. UGEFA is implemented by Finding XY, a Ugandan-based non-profit, innovation centre and business advisory firm; and adelphi Research gGmbH, a leading global independent think and do tank on environment and development.