The National Bank of Ethiopia (NBE) has joined the Global Islamic Climate Finance Alliance (GICFA) as a Founding Affiliate at the Alliance’s official launch, held on the sidelines of COP31 in Antalya, Türkiye.
NBE extends its appreciation to the organisers and partner institutions for establishing the Alliance, which it regards as a timely and highly relevant platform for Ethiopia. The Alliance aligns closely with Ethiopia’s financial inclusion agenda, as expanding interest-free finance can help bring unbanked and underserved communities into the formal financial system.
GICFA also provides an alternative platform for mobilising resources through new financial products and services, such as green bonds and sukuk, and connects Islamic finance with mainstream climate finance.
Furthermore, the Alliance will serve as a valuable platform for knowledge, capacity building and experience sharing among member institutions, and as an additional lever for Ethiopia’s aspiration to become a regional finance and investment hub.
As host of COP32 next year, Ethiopia will use the Alliance as an important platform to lead policy dialogue on Islamic climate finance and sustainable development, and to help move the Alliance from plans to implementation.
