The European Investment Bank (EIB) has committed to join Africa Finance Corporation (AFC) in financing the $750 million Infrastructure Climate Resilient Fund (ICRF). The fund is aimed at accelerating climate adaptation and sustainable infrastructure development in Africa, focusing on climate-resilient infrastructure, such as transport and logistics, clean energy, digital infrastructure, and industrial development. The EIB will invest $52.48 million in the fund, which is managed by AFC Capital Partners, the asset management arm of AFC. The Green Climate Fund (GCF) has committed $253 million to the fund, marking its largest-ever equity investment in Africa. The fund will use blended finance to de-risk private investment and integrate innovative tools, such as climate risk parametric insurance, to enhance protection against climate-related risks and losses. The EIB’s investment is aimed at attracting additional investors, reducing risk, and promoting best practices in climate finance. The fund is aligned with the European Union’s Global Gateway initiative and the United Nations’ Sustainable Development Goals.
Recent Posts
- Make a greener footprint: Swap traditional bottled water for our refillable spout pouches.
- Breaking: Classified intelligence reveals the alarming threat climate change poses to global national security
- Pioneering new material: lab-grown, bacteria-based ‘leather’ that changes color naturally, eliminating need for dyeing.
- Savvy homebuyers can typically pocket a substantial sum, ranging from $7,000 to $12,000.
- Breakthrough nanomaterial research poised to revolutionize drug delivery with unparalleled precision and efficacy.
Recent Comments
No comments to show.