National Bank of Ethiopia Joins Global Islamic Climate Finance Alliance as Founding Affiliate

Addis Ababa, November 14, 2026 (FMC) – The National Bank of Ethiopia (NBE) has become a Founding Affiliate of the Global Islamic Climate Finance Alliance (GICFA), joining the initiative at its official launch held on the sidelines of the 31st UN Climate Change Conference (COP31) in Antalya, Türkiye.

The Bank described the Alliance as a timely and relevant platform for Ethiopia, particularly in supporting the country’s financial inclusion agenda by expanding access to interest-free financial services for unbanked and underserved communities.

It noted that the development of Islamic finance can help extend formal financial services to communities that remain outside the banking system, while creating additional opportunities to mobilize resources for climate action and sustainable development.

Through new financial products and services, including green bonds and sukuk, the Alliance is expected to provide alternative channels for mobilizing climate finance and strengthen connections between Islamic finance and mainstream climate financing mechanisms.

The NBE also highlighted the Alliance’s potential to facilitate knowledge exchange, capacity building and experience sharing among member institutions, while contributing to Ethiopia’s ambition to emerge as a regional hub for finance and investment.

As Ethiopia prepares to host COP32 next year, the Bank said it intends to use the Alliance as a platform to advance policy dialogue on Islamic climate finance and sustainable development, and to support the transition from the Alliance’s plans to practical implementation.

The Bank also expressed appreciation to the organizers and partner institutions for establishing the Alliance.