IFC Supports US$450m Wind Projects in Pakistan to spur renewable energy and help meet power needs

PAKISTAN — Pakistani nationals are set to start enjoying increased access to cheaper and cleaner electricity. This is after the IFC, a member of the World Bank Group, led the financing of a first-of-its-kind program to build six wind power projects in Pakistan, named the Super Six. The project with a total investment of US$450 million, will help deliver cleaner, cheaper power to meet the country’s critical demand for energy and reduce reliance on expensive imported fossil fuels. As part of the program, IFC is providing a financing package of…

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German development finance institution, DEG opens representative office in Nigeria to oversee West Africa operations

NIGERIA – German development finance institution Deutsche Investitions- und Entwicklungsgesellschaft (DEG) has opened a representative office in Lagos, Nigeria’s economic hub, to pool DEG’s activities in the West African countries. A statement released by KfW (which is DEG’s parent institution) noted that, “By further expanding its office in Lagos, DEG recognises the strategic importance that Nigeria and West Africa have for the continent’s further development.” During the office launching ceremony, Monika Beck, member of DEG’s Management Board, said “With our office in Lagos, we are able to set an example…

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