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Tuesday, November 14, 2023 - 16:30 to Monday, November 14, 2033 - 16:30

Your Excellencies,

  • Honourable Minister for Trade and Investment, Federal Republic of Nigeria;
  • Dr. Kevin K. Kariuki, Vice President of Power, Energy, Climate Change, and Green Growth of the African Development Bank, represented
  • Ms. Ngone Diop, Director of West Africa Sub-Regional Office, UN Economic Commission for Africa (UNECA);
  • Mr. Mominul Islam, ADFIAP Chairman, Managing Director & CEO, IPDC Ltd, Bangladesh;
  • Dr. Olasupo Olusi, Managing Director/Chief Executive Officer, Bank of Industry Nigeria (BOI),
  • Representatives from Central Banks, Ministries and Agencies;
  • Distinguished Colleagues and Delegates;


Ladies and gentlemen,

  1. I am delighted to welcome you to the Joint International CEO Forum of the Association of African Development Finance Institutions (AADFI) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in this beautiful city of Abuja, the Capital of Nigeria.
  2. I want to acknowledge the peaceful atmosphere that pervades this beautiful city of Abuja. This gathering provides an opportunity to foster integration in Africa and cooperation across the continents.

Excellencies, Ladies and Gentlemen;

  1. On behalf of the Board of Directors of AADFI, the entire leadership of the African DFIs, and our partner ADFIAP, I thank the President of the Federal Republic of Nigeria, His Excellency  Bola Ahmed Tinubu, for the peaceful atmosphere in the country, which made it possible for us to converge here for this event.
  2. We also thank the Honourable Minister for Trade and Investment for gracing this occasion.
  3. I recognize the representatives of the African Development Bank, the UN Economic Commission for Africa, the French Development Agency, and other numerous partners that have joined us today.
  4. We sincerely thank Dr. Olasupo Olusi, Managing Director/Chief Executive Officer of the Bank of Industry (BOI), the Board, and the Management of the Bank for hosting this event at this auspicious time.
  5. I would also like to acknowledge the partnership with our Asian counterpart, the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), and most profoundly, to welcome delegates from Asia and the Pacific, Africa, and other parts of the globe to this event.
  6. The Joint International CEO Forum of AADFI and ADFIAP is a biennial event aimed at building global partnerships to promote and finance development in our regions and to strengthen South-South Cooperation.
  7. The Forum is held under the auspicious of the World Federation of Development Financing Institutions (WFDFI). The first edition was held in Johannesburg in 2012, followed by Malaysia in 2014, Gaborone Botswana in 2016 (hosted by my institution, the Citizen Entrepreneurial Development Agency – CEDA), then Northern Cyprus in 2018, and now in Abuja, Nigeria in 2023. Of course, COVID-19 disrupted the sequence. But we are happy that we are reconnecting and returning to near normal. The next edition of the AADFI-ADFIAP Joint International CEO Forum will be held in 2025 and hosted by ADFIAP members in Asia.


Excellencies, ladies and gentlemen;

  1. It is no longer news that the world is facing the negative impact of climate change. Human health and safety, food and water security, and sustainable socio-economic development[1] are threatened globally.
  2. Reports predict that if strategic actions are not taken to combat climate change, the world economy will lose more than 18% of its current GDP by 2048, and the least developed countries, particularly those in Africa, Asia-Pacific, and Latin America, will suffer the worst consequences.[2]
  3. Africa, for instance, is estimated to lose 5% to 15% of its projected GDP by 2050, with a projected climate adaptation cost of $10 to $30 billion annually by 2030[3]. At the same time, the Asia and ASEAN countries are projected to lose 26.5% and 37.4% of their GDP by 2048 if immediate action is not taken to mitigate the effects of climate change[4].
  4. We are in a climate emergency today, as highlighted in UNDP publications. As we focus on addressing the challenges of climate change, we are also aware of the need for just transition.



Excellencies, ladies and gentlemen;

  1. These scenarios depict a gloomy picture, and as highlighted by UNDP in its publication, “We are today in a climate emergency.” This calls for urgent action from all stakeholders and responding just and equitably. We must sustain efforts in embedding climate-friendly initiatives in our operations for a bright future.
  2. As an Association of DFIs, the AADFI will continue to leverage partnership and collaboration in advancing the Paris Agreement. Such cooperation is manifest in our membership of the WFDFI,  our relationship with our colleagues in Asia and the Pacific, the African Financial Alliance on Climate Change(AFAC), and our involvement in the Finance in Common Summit, a global coalition of over 500 plus  Public Development Banks (PDBs).
  3. Moreover, the AADFI has strategically repositioned its commitment to achieving the Paris Agreement by setting up a Working Group on Climate Change to deepen its involvement in advancing it.
  4. You will, therefore, agree with me that the theme of the AADFI-ADFIAP Joint International CEO Forum is of significant importance. Our discussions at the Forum aims to:
  • Sustain awareness of the overarching climate challenges and share experiences from various regions on solutions and mitigation strategies;
  • develop an actionable plan on how DFIs in developing countries can leverage global partnership and support to deliver on the agenda of a climate-smart future;
  • agree on achievable and measurable climate agenda targets that national DFIs in Africa and Asia can incorporate into their business models, particularly in promoting climate-resilient and low-carbon development in their regions and
  • come up with workable ideas on strengthening collaboration and partnership in addressing climate finance needs in our regions.


Excellencies, Ladies and Gentlemen;

  1. Let us engage,  share innovative ideas and knowledge, and explore opportunities to scale up our involvement in achieving the target of a climate-smart future.
  2. I wish us very fruitful deliberations.