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Oliver Kazunga, Senior Business Reporter
THE African Development Bank (AfDB) has reached financial closure on financing agreements for a US$20 million concessional investment from the Sustainable Energy Fund for Africa for the Covid-19 Off-Grid Recovery Platform (CRP).
In a statement, the regional financier said the five-year, US$50 million blended finance initiative is designed to provide relief and recovery capital to energy access businesses, supporting them through and beyond the pandemic.
“The concessional loan agreements were signed with fund managers Lion’s Head Global Partners, Triple Jump, and Social Investment Managers and Advisors, following approval by the board of directors of the AfDB in December 2020 for a UD$20 million concessional investment from the Sustainable Energy Fund for Africa (SEFA), to establish the platform,” said the financial institution.
– @okazunga
Online Reporter