30-day notice: Sterling Bank and DFCD
DFCD approved support for Sterling Bank to develop and implement tailored financial products to bridge the climate finance gap, making adaptation solutions more accessible, investable, and scalable.
Abstract
This 30‑day disclosure notice details the Dutch Fund for Climate and Development’s (DFCD) planned support for Sterling Bank Limited in Nigeria. Established over 60 years ago, Sterling Bank is a major commercial bank with an asset base of ₦2.5 trillion (approx. EUR 2.9 billion) and serves more than four million customers. Through its H.E.A.R.T strategy, covering Health, Education, Agriculture, Renewable Energy, and Transportation, the bank has built a strong record in agricultural finance, serving over 140,000 smallholder farmers and agribusinesses.
The DFCD Origination Facility will provide a EUR 321,000 grant to help Sterling Bank develop a climate adaptation finance framework. The funding will support the creation of a dedicated Climate Finance Desk, integration of ESG criteria into lending, and enhancement of climate risk assessment tools. It will also finance technical assistance programmes to prepare agribusinesses and small and medium‑sized enterprises (MSMEs) for investment in climate‑smart practices and technologies.
Nigeria’s smallholder farmers supply more than 80 per cent of the country’s food yet face significant climate‑related threats, such as unpredictable rainfall, erosion, and land degradation. Sterling Bank’s initiative will de‑risk climate‑resilient agriculture, making it more viable for private and institutional investment. The project also supports sustainable land management, renewable energy adoption, improved incomes, food security, and gender inclusion through its SWAY‑AgFin programme.
This investment aims to strengthen rural livelihoods, enhance climate resilience, and unlock further climate finance in Nigeria’s agricultural sector.