A 3-DAY PARLEY BETWEEN NUPRC AND GGGI ON NGFCP IMPLEMENTATION AND PROJECT EXECUTION
In an effort to drive the successful implementation of the NGFCP and expand financing options for Awardees, the NUPRC is deepening collaboration and partnerships with development agencies and multi-lateral institutions such as the Global Green Growth Institute (GGGI) – A South Korean Government Funded Institution committed to support key climate action projects & initiatives.
The NUPRC – GGGI relationship is underpinned by a Memorandum of Understanding (MOU) which basis was established at the high-level meeting of the Commission Chef Executive (CCE), Engr. Gbenga Komolafe, with leadership of the GGGI on the sidelines of COP 28 held in Dubai in December last year.
To that end, a 3-day investment focused workshop between the two (2) organization was convened from February 26th to 28th, 2024, at the Stratton Hotel, Abuja, to fashion ways to enhance the bankability of NGFCP Projects and explore financing opportunities available through the Fund related to the GGGI and other collaborative financial entities. The Workshop closed with a working Session with representative NGFCP Awardees to kick-start discussions on funding options through the Institute. Similar engagements were held with other NGFCP Awardees in Lagos on Thursday, 29th February 2024.
The focused event, which was led by the Executive Commissioner, Corporate Services & Administration and NGFCF Chair, involved about 25 Participants from the NUPRC, GGGI, KPMG, and NGFCP Awardees, fostered constructive dialogue and collaboration among participants.
It is anticipated that the efforts of the NUPRC in this respect, under the stewardship of the Commission Chief Executive, would attract about $500 Million USD for the execution of NGFCP projects and delivery of sustainable flares-out solutions within 2024 and the near term.
