The National Climate Fund (NCF) of Somalia held its first-ever Climate Finance training workshop in Mogadishu, targeting Somali banks through the Somali Bankers Association (SBA).
The workshop focused on the global architecture of climate finance, including major international funds, known as Vertical Funds, and the opportunities available to Somali private sector businesses. Participants explored ways to access climate financing and how banks can channel these funds to their clients to strengthen community resilience.
Dr. Ahmed Khadar Jamaac, Chairman of the Somali Bankers Association, praised the initiative, highlighting the critical role Somali banks play in integrating global climate finance practices into the local financial system.
The workshop brought together representatives from all banks operating in Somalia, many of which provide financing to sectors most vulnerable to climate change, such as agriculture and energy. The sessions also provided a platform for bank experts to share experiences and challenges in accessing climate finance, fostering collaboration to boost sustainable investment.
NCF officials emphasized that strengthening the capacity of Somali banks in climate finance is a key step toward ensuring that communities across Somalia can adapt to climate-related risks while accessing funding for sustainable development initiatives.
