March 16

AfricaGoGreen Fund Receives $31.5 Million to Promote Private Sector Efficiency Investments

By Schalk Burger

Development finance institution (DFI) the African Development Bank (AfDB) and its Sustainable Energy Fund for Africa (SEFA) have approved a combined-equity investment of $20-million in the AfricaGoGreen Fund (AGGF) debt fund, which was established to promote private investments in energy-efficient technologies and business models, decarbonise African economies and accelerate the energy transition.

This is in addition to the $11.5-million equity contribution approved by DFI the Nordic Development Fund (NDF).

“This combined bank investment will lead to increased financing of emerging projects and businesses in the areas of industrial appliances, electric mobility and green buildings, which are key to the decarbonisation of African economies and to a just energy transition,” says AfDB powerenergy, climate and green growth VP Dr Kevin Kariuki.

Photo courtesy of mad mags.

Source: Engineering News (link opens in a new window)

Energy, Environment
climate change, energy access, impact investing, renewable energy