Somalia's pioneering step towards climate finance: A transformative training for banks
In a significant development for Somalia's economic landscape, the National Climate Fund (NCF) and the Somali Bankers Association (SBA) recently hosted the inaugural Climate Finance training for Somali banks in Mogadishu. This groundbreaking initiative, supported by the UK's Foreign, Commonwealth and Development Office (FCDO), marks a pivotal moment in the country's journey towards climate resilience and sustainable development.
The training session, held on Sunday, December 14, 2025, delved into the intricate world of global climate finance, shedding light on the operations of major international climate funds and the immense opportunities they present for Somalia's private sector. It served as a platform for Somali banking professionals to exchange insights and strategies, fostering collaboration in accessing climate finance and channeling it effectively to support community-level climate resilience.
Liban Obsiye, Executive Director of the National Climate Fund, emphasized the pivotal role of Somali banks in the economy and their potential to drive climate financing. "Somali banks are the backbone of our economy and a key enabler of current and future climate financing," he stated. "The NCF is committed to fostering strong private-sector participation in national resilience-building efforts."
Dr. Ahmed Khadar A. Jama, CEO of the SBA, echoed this sentiment, highlighting the timeliness and importance of the training in an evolving global climate finance landscape. "This climate finance workshop is a game-changer for Somali bankers," he said. "It equips them with the expertise needed to seize emerging business opportunities, contributing significantly to Somalia's economic development."
The training attracted representatives from all Somali banks, many of which have investments in climate-sensitive sectors such as agriculture and energy. This widespread participation underscores the banks' recognition of the importance of climate finance in their operations and the potential for positive impact on the country's climate resilience.
The UK-backed FCDO Pioneer Country Trials program, which supports Somalia in addressing its severe climate vulnerability, provided the technical and financial assistance necessary for this initiative. By strengthening national climate planning and improving access to global climate finance mechanisms, the program is paving the way for Somalia to harness the full potential of climate finance for adaptation and mitigation projects across the nation.
