May 18

African Development Bank Launches $1.6 Million ‘Green Bank’ for Sustainable Growth

After the recent agreement on climate finance that it signed with the Dutch fund ILX Management, the African Development Bank (AfDB) is launching a new “green bank” that should enable the decarbonisation of several sectors of the economy in Africa.

Smart agriculture, energy efficiency and renewable energy. These are the main areas in which the new “green bank” of the African Development Bank (AfDB) will invest. This financial mechanism focused on “resilient and sustainable growth” was recently launched with a capital of 1.6 million dollars provided by the institution based in Abidjan, Ivory Coast.

Photo courtesy of Kristian Niemi.

Source: Afrik21 (link opens in a new window)

Agriculture, Energy, Environment
climate change, decarbonization, renewable energy