FMO AND FNB PARTNER A $ 50M CLIMATE FINANCE DEAL 

By Daily News Reporter 

The Government of Zambia has witnessed the signing of a landmark of a $50 million agreement between First National Bank (FNB) Zambia and FMO, the Dutch Entrepreneurial Development Bank, to support climate action and green growth in the country.

The facility  will also channel funding towards eligible green projects, including climate-smart agriculture, renewable energy, and sustainable forestry initiatives. This partnership aims to strengthen Zambia's climate resilience and promote inclusive growth.

"FMO is proud to partner with FNB Zambia to drive sustainable development and climate resilience," said Angelica Ortiz de Haas, FMO Manager. 

"This transaction responds to Zambia's macro challenges, providing scarce US dollars to support climate mitigation and adaptation projects." She added.

The agreement is part of FMO's broader commitment to supporting sustainable private sector growth in emerging markets. WWF will provide technical assistance to FNB Zambia to strengthen its capabilities in climate finance.

The facility, co-funded by the Dutch Fund for Climate and Development (DFCD), will channel funding towards eligible green projects, including renewable energy, sustainable agriculture, and climate-resilient infrastructure.

Speaking at the signing ceremony, Permanent Secretary of the Ministry of Green Economy and Environment, Mr. Dought Chibamba, emphasized the importance of partnerships in driving climate action. "This agreement is a statement of intent, a shared commitment to Zambia's climate resilience," he said.

And FNB Zambia CEO, Ms. Kapumpe Chola, expressed the bank's commitment to sustainable development, saying, "FNB is committed to financing a greener future responsibly."

The agreement is expected to support Zambia's national priorities, green growth strategy, and climate resilience goals, while promoting inclusive growth and job creation.

The partnership involves collaboration between FNB Zambia, FMO, WWF, and DFCD, demonstrating the power of partnerships in driving climate action.