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35 Financial Institutions Trained On Social Management Risk by DBG, World Bank & MoF

Development Bank Ghana has organized a workshop for financial institutions in efforts to building a robust banking sector with a well-implemented environmental and social management system. The five-day workshop, organized by DBG in partnership with the World Bank and the Ministry of Finance, seeks to sensitize environmental and social principal officers drawn from over 35 financial institutions comply with the Bank of Ghana’s Sustainable Banking Principles, thereby positioning them to receive development financing from DBG.

At the official opening of the Training of Trainers Workshop in Koforidua, Eastern Region, on Tuesday, DBG CEO Kwamina Duker expressed the bank’s commitment to strengthening the environmental and social management capacity of Ghana’s financial institutions and their stakeholders.

He expressed hope that the training would equip DBG’s partner financial institutions and potential partners to evaluate and mitigate their credit decisions on the environment.

“We also hope that the sessions over the next few days will fully equip DBG’s partner financial institutions and potential partners to evaluate and mitigate the inherent E&S exposures in their credit decisions. This program, we hope, will serve to accelerate the compliance of our banks with the Bank of Ghana Sustainable Banking Principles and better position them to receive development financing from DBG,” the CEO of DBG expressed hope. Mr. Duker acknowledged that their projects hinge on the intricate interplay between development initiatives, environmental, and social impact.

“At the heart of DBG’s mission lies a deep acknowledgment of the environmental and social dimensions of development. We recognize that responsible and sustainable development is a fundamental necessity. Our economic progress, the well-being of our communities, and the success of our projects all hinge on the intricate interplay between development initiatives and environmental and social impact.”

John Boateng Akuoko-Tawiah, Head of ESG, Sustainability, and Climate Finance at DBG, emphasised the need for the bank to build the capacity of the financial institutions.

“As a development bank whose mandate also includes building the ecosystem in terms of building capacity within the financial institutions’ players, we believe that being able to provide additionality to the private sector is a very important task which eventually will build the financial capacity for these institutions to evaluate the environmental exposure that exists in investments and credit decisions they make,” He added.

Carlos Leonardo Vicente, Senior Financial Sector Economist at the World Bank, expressed hope that the participants would be equipped with the necessary tools to aid their work, expressing gratitude to DBG and the Ministry of Finance for joining forces to train staff in the banking sector. “I hope that the training will exceed your expectations. Let me express my gratitude to DBG and the Ministry of Finance for joining forces with the World Bank to make this training a reality,” he said.

Andy Ameckson, Head of the Banking and Non-Banking Unit at the Ministry of Finance, underscored the importance of building a robust financial banking sector, citing DBG’s agenda of nurturing businesses. “It is a known fact that for any nation to flourish, its financial architecture needs to be robust, inclusive, and dynamic. And the Development Bank Ghana, I believe, is the fulcrum around which this architecture pivots. It is not just about providing credit or helping commercial banks nurture businesses, but about crafting an environment where dreams find wings, and visionaries find means,” he stated.

DBG is a Development Finance Institution established by the government of Ghana to facilitate and strengthen long term financing to the Ghanaian businesses along with delivery of appropriate non-financial services to strengthen the ecosystem in which businesses operate. The Bank ensures that sustainable and global best practices are applied across all of its operations.

Source: citinewsoom.com

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