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News Coverage

Ghana hosts 3rd edition of Green Finance Conference


Accra, Ghana 21st November 2017

In a continent where Green Finance has been unreachable for numerous SMEs, the conversation on
the opportunities in the region could not have come at a better time. Issues around the
commercialisation of green projects and solutions available, the role of Financial institutions in
promoting green finance as well as the need to create a conducive environment for the growth of Green
finance and green energy are centre to the future of Africa’s sustainability.
The African Guarantee Fund (AGF), the International Trade Centre (ITC) and the Nordic Development
Fund (NDF) held the Green Finance Conference on 21 November 2017 at the Mövenpick Ambassador
Hotel in Accra, Ghana. Key discussions zeroed in on creating a conducive environment for green
finance; the role of commercial and development finance institutions, products and services in the
sector and challenges and opportunities in undertaking green energy projects.
“At the African Guarantee Fund, we believe the development of SMEs is one of the principle
solutions to fostering environmental sustainability and more inclusive growth in African
countries. This conference aims to highlight the positive financial and environmental benefits
to be gained through opportunities in the Green Economy,” said Mr. David Ekabouma, AGF’s
Head of Business Development.
Being a member of the UN Framework Convention on Climate Change (UNFCCC) the Government of
Ghana has acknowledged its vulnerability to climate risks and the challenges of climate change present
for economic development. Mr. Fimpong Kwarteng Amaning the Director, Real Sector Division from the
Ministry of Finance, represented the Honorable Minister of Finance at the event.
He said, “We are witnesses to impact of erratic rainfall on our agriculture sector, its impact on
generation of hydroelectric power; we are aware of the occurrences of seasonal flooding that
affect our cities and villages and the toll on life and property, and the destruction of our
physical infrastructure; we have witnessed how coastal villages and coastal urban
communities are gradually being washed away. These challenges have negative implication
for economic growth, fiscal management, and macroeconomic stability, and if no action is
taken now, the cost of doing it in future will be prohibitive and counterproductive to our quest
for [rapid] socio-economic development.”
This Green Finance Conference builds on the 2016 launch of a green guarantee product by AGF and
joint work by all three organizing institutions to expand access to finance for green growth-focused small
and medium-sized enterprises (SMEs) in Africa.
"We are behind this event 100%. This green finance partnership with AGF and ITC sends a
strong signal to the financial sector that the green investment opportunity in Africa is real and
growing,” said Mr. Pasi Hellman, Managing Director, Nordic Development Fund.
He added, “We will continue to support this work, leveraging NDF’s mix of financing
instruments for maximum impact toward the growth of a vibrant green economy in the
Also present during the conference was Anders Aeroe, Director, DEI, International Trade Centre who
“The Government of Ghana has repeatedly noted in its many policy directives that economic
growth can only be meaningful if it is inclusive and sustainable. Based on today’s knowledge
and technologies, we can create profitable innovative opportunities while mitigating
greenhouse gas emissions, adapting to climate change, and reducing waste and pollution.
That’s why promoting green business models and green trade must be at the heart of all we
do and why access to the financing required for green projects is so important at this time.


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