The bank received recognition for its work on 'Sustainable Development Goal 8 - Decent Work and Economic Growth.'

In a statement, it was revealed that the bank emerged as the winner of the first category after competing with over 100 projects. It secured the grand prize of $400,000.

Applicants for this award showcased how their operations and activities promoted decent work and enabled economic growth within their community, which aligns with the Sustainable Development Goal 8, which all 191 UN member states aim to achieve by 2030.

Speaking at the award ceremony during the just-concluded COP28 in Dubai, Dr. Tony Okpanachi, the Managing Director and Chief Executive Officer of DBN, attributed the award to the bank's unwavering commitment to the global drive on green and sustainability.

Okpanachi said, “At DBN, we are excited about this grant, because it aligns with the agenda and aspirations of the bank to become the primary development finance institution promoting growth through MSME finance and accelerating sustainable socio-economic development in technology, agriculture, health, education and job creation in Nigeria.

“I also want to use this medium to appreciate the organisers of the AGFUND’s Prince Talal International Prize and our international partners for considering us worthy of this prize.

“The funds will go a long way to fill identified financing gaps in the MSME segment and develop capacity for ideation, development, financing, and management of impactful, viable, and financially sustainable green projects.”

Meanwhile, on Green Financing in Nigeria, Okpanachi maintained that Nigeria required about $122bn from now till 2030, to develop the green sector and attain the Sustainable Development Goals.

“There has been a significant effort in raising the required finance and gestures like this will help bridge the funding gap needed to achieve sustainable investment in Nigeria and DBN is at the forefront in driving this investment,” Okpanachi added.