Over 30 Implementing Entities to Meet in Durban to Build Strategy, Action Plan To accelerate and enhance Direct Access to climate finance for developing countries that are vulnerable to climate change, the Adaptation Fund (AF), Green Climate Fund (GCF), African Development Bank and South African National Biodiversity Institute (SANBI) are joining forces to facilitate a […]
SEFA approves grant to promote investments into Renewable Energy in Ethiopia
The SEFA grant will encourage private investments into hydropower projects through Ethiopia’s Renewable Energy Programme. The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank on 17 May 2019 approved a $995,000 grant to support the rollout of a sustainable procurement framework for Independent Power Producers (IPPs) in Ethiopia. The SEFA grant […]
Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company
The Board of the African Development Bank has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing facility of up to $5 million. […]
AfDB develops financing instruments for engaging off-grid sector by invest in FEI
Energy stakeholders call for new financing mechanisms to support off-grid and mini-grid connectivity in Africa Energy industry stakeholders attending the 5th Energy Access Investment Forum have called for a restructuring of the financing mechanisms enabling the development of off-grid and mini-grid connectivity in Africa. “Meeting the universal electricity access objects within the next decade will […]
African Development Bank, Nordic Development Fund and Partners launch Off-Grid Energy Access Fund with US$58 million
The African Development Bank, the Nordic Development Fund and other partners have committed US$ 58 million to support the Off-Grid Energy Access Fund (OGEF). The Fund is part of the Bank’s sponsored Facility for Energy Inclusion (FEI), a US$500 million debt platform to mobilize capital market funds for innovative energy access strategies. The first financial […]
African Development Bank, Nordic Development Fund and Partners launch Off-Grid Energy Access Fund with US$58 million
The African Development Bank, the Nordic Development Fund and other partners have committed US$ 58 million to support the Off-Grid Energy Access Fund (OGEF). The Fund is part of the Bank’s sponsored Facility for Energy Inclusion (FEI), a US$500 million debt platform to mobilize capital market funds for innovative energy access strategies. The first financial […]
African Development Bank, Green Climate Fund and Africa 50 support Desert to Power programme
The African Development Bank, the Green Climate Fund (GCF) and the Africa50 investment fund signed a letter of intent to collaborate on the Desert to Power programme on the sidelines of the Bank’s Annual Meetings, Busan, Korea. The Desert to Power programme, initiated by the Bank, aims to develop 10,000 MW of solar energy across […]