The African Development Bank Group (AfDB) has approved a $32.5 million equity investment, which will be directed towards bankable energy projects within Africa. “Significant investments are required to close the infrastructure gap and meet energy access goals,” said Amadou Hott, the Bank’s Vice President for Power, Energy, Climate Change and Green Growth. “The Bank’s investment in the Fund will complement its operations in the energy sector, and unlock at least an additional $40 million dollars of investments into Africa. The CEF will have a measurable social and environmental impact by supporting the establishment of clean energy projects in developing markets, by creating jobs and providing access to electricity in an under-developed market. CIO is a platform that uses a unique blended finance approach, and targets the entire asset lifecycle to deliver viable renewable energy projects to the market, according to AfDB press statement.

Source: News Business Ethiopia January 10, 2019 14:03 UTC