Wednesday July 29, 2026
Mogadishu (AX) — Somalia is stepping up efforts to unlock international climate funding, with the National Climate Fund (NCF) at the Ministry of Finance and the Somali Bankers Association (SBA) completing a three-day workshop designed to strengthen climate finance expertise across the country’s banking sector.
The workshop was the second phase of a training program that began in December 2025. It aimed to help Somali financial institutions turn climate finance principles into viable investment strategies while preparing them for deeper participation in global climate funding mechanisms.
Senior officials from Somali commercial banks and insurance companies attended the training, including specialists in business development, credit and risk management, sustainability, and project finance.
The program provided technical instruction on the global climate finance system, the Green Climate Fund (GCF) project cycle, and the preparation of bankable climate projects. It also explored how Somali financial institutions could seek accreditation as National Implementing Entities (NIEs), enabling them to secure international climate finance directly.
With Islamic finance dominant in Somalia, the workshop devoted sessions to Sharia-compliant climate finance tools, including Murabaha, Ijara, Sukuk, Musharaka, grants, concessional financing, guarantees and blended finance. Participants also considered ways to create green financial products suited to Somalia’s economic conditions.
At the closing ceremony, Somali Bankers Association Chief Executive Officer Dr. Ahmed Khadar Abdi Jama said Somalia’s banks are prepared to take on a larger role in funding climate resilience.
“Somalia’s banks are ready to increase their investment in all sectors that enhance Somalia’s climate resilience. This training was a significant opportunity to better understand global climate finance and identify partnership opportunities among our member banks, international financial institutions, and climate funds,” he said.
Liban Obsiye, Executive Director of the National Climate Fund (NCF), said stronger domestic financial institutions are essential to attracting more climate investment and advancing Somalia’s long-term development priorities.
“Through our continued collaboration with the Somali Bankers Association, NCF remains committed to building a stronger, more climate-ready financial sector capable of supporting Somalia’s transition to a resilient and sustainable economy,” Obsiye said.
The training is part of the National Climate Fund’s wider push to reinforce Somalia’s financial ecosystem and increase private-sector participation in funding climate adaptation, resilience and sustainable economic growth.
Somalia ranks among the countries most exposed to climate change, enduring repeated droughts, floods and other climate-related shocks that have intensified the demand for investment in resilience and sustainable development.
