TDB Group is pleased to announce that it has obtained the Green Climate Fund (GCF) accreditation as an African regional direct access entity which will enable the Group to partner with the GCF in the implementation of climate action projects in all its Member States.
TDB Group was accredited in the large size category, which qualifies it to execute projects exceeding USD 250 million, as well as those valued below this amount. Likewise, the type of accreditation received will also enable the Bank to implement GCF-funded projects across all levels of Environmental & Social Safeguards (ESS), ranging from the lowest to the highest ESS risk categories.
The accreditation reflects the Bank’s track record and commitment to upholding rigorous and specialised fiduciary standards, environmental and social safeguards, and gender policy. Special attention was paid to TDB Group’s capabilities in project management, funding allocation mechanisms, award of grants, on-lending and the blending of various financial instruments such as loans and guarantees, among others.
TDB Group is a development finance institution; as such sustainability is at the core of all its operations. Supported by its ESG framework, the Group is firmly committed to the global development agenda as guided by the Sustainable Development Goals, the African Union’s Agenda 2063, and the Paris Agreement on Climate.
Henry Gonzalez, the Green Climate Fund’s (GCF) Chief Investment Officer, said, “The GCF is pleased to welcome TDB Group as a regional direct access entity to the Fund’s accreditation network. The partnership will open new opportunities for collaboration on climate action that will accelerate low-emission, climate-resilient, sustainable development in Africa.”
Joy Ntare, Group Vice President and Deputy Managing Director said: “Since adopting its first environmental policy in 2005, TDB Group has continued refining and enhancing relevant policy frameworks and developed staff and key stakeholder capacity on various sustainability topics, including around climate action, so as to ensure its progressive mainstreaming across operations. In 2023, TDB Group launched its Climate Finance Strategy and Green Taxonomy. GCF’s accreditation will be conducive to the implementation of the policy, providing essential resources to collaborate with Member States in executing their Climate Action Plans, including Nationally Determined Contributions (NDCs).”
