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Tag Archives: IFC

COVID-19: G7 institutions, partners to recover, grow Africa with $80bn

James Duddridge

The G7 Development Finance Institutions (DFIs), the International Finance Corporation (IFC), the private sector arm of the African Development Bank (AfDB), European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) on Monday, June 14, 2021 announced that they were committed to investing $80 billion in the private sector over the next five years to support sustainable ...

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How to unlock private investment for climate action

Tom Kerr

In 2016, the historic Paris Climate Change Agreement accelerated already growing markets for climate-smart investment. And 2015 was another record-breaking year for renewable energy, with nearly $350 billion invested, more than double the amount going to fossil-powered generation. The growing attraction of climate business was evident at last year’s UN Climate Change Conference in Marrakesh, where more and more major ...

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World Bank, investors in $117.5m Africa renewable energy deal

Eddie O’Connor

Global renewable energy developer Mainstream Renewable Power has signed $117.5 million equity investment from investors including IFC, the IFC African, Latin American and Caribbean Fund (ALAC) and the IFC Catalyst Fund, two funds managed by IFC Asset Management Company, Ascension Investment Management and Sanlam to accelerate the build-out of megawatts of wind and solar plants across Africa. The deal, which ...

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World Bank supports Brazil climate-friendly projects with $400 million

Candido Bracher

The International Finance Corporation (IFC), a member of the World Bank Group, is providing a $400 million financing package for Banco Itaú Unibanco, one of the largest banks in Brazil, to support projects that will help mitigate the effects of climate change. With IFC’s support, Itaú will finance renewable energy, water treatment, and energy efficiency projects, along with other initiatives that ...

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World Bank invests in $120m Abuja shopping mall

The IFC, a member of the World Bank Group, has announced a $9.5 million investment in Jabi Lake Mall to support demand for modern business infrastructure and retail space in Abuja, Nigeria. The project will help create about 350 construction jobs and 900 long-term, retail-sector jobs. The $120 million Jabi Lake Shopping Mall is being built on five hectares of ...

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