06 SEPTEMBER 2021 | KAMPALA
Yako Bank Limited 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, 6th September 2021 at the Serena Hotel from 07:30 – 09:30AM EAT.
As an UGEFA Partner Bank, Yako will benefit from privileged access to the UGEFA pipeline of 200+ finance-ready, green businesses graduating from the 6-month finance-focused UGEFA Catalyser programme for business development. Yako, alongside other UGEFA Partner Banks, will deliver 6.1 million USD in debt financing by 2023 to green SMEs across sectors.
Trends in overall green finance flows indicate that global capital earmarked for supporting green investment is expected to expand in the coming years, with $867 billion in green finance committed globally since 2015, according to Climate Policy Initiative analyses from 2020. UGEFA’s collaboration with financial institutions fosters a community of practice among financial institutions and other stakeholders of entrepreneurial ecosystems to provide green SME lending.
This partnership between Yako Bank and UGEFA affirms the role of banking institutions in supporting green enterprises in Uganda. The partnership will boost green financing in the domestic green SME ecosystem.
“As Yako bank, we are proud to be partners with UGEFA and give back to people by protecting the environment. Green financing gives more importance to environmentally friendly factors keeping our clients in a better world free from pollution and climate change dangers. Yako wishes to support the green firms in a big way,” T V Balasubramanian, Executive Director, Yako Bank.
“The UGEFA team is excited about the partnership with Yako Bank. In order to achieve extensive economic growth, we need to blend development finance and commercial finance. Our Partnership with Yako 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.