IFC extends a US$225m to FirstRand Bank to support energy-efficiency and water-smart projects

SOUTH AFRICA – International Finance Corporation (IFC) a member of The World Bank, has extended a US$225 million loan to South Africa’s FirstRand Bank, a financial service provider, which will deploy the finance in support of energy-efficient and water-smart projects in South Africa. The loan includes a US$75-million contribution from the Dutch entrepreneurial development bank FMO, which funds sustainable private sector growth in developing countries and emerging markets. FirstRand group treasurer Andries du Toit said the transaction would provide it with valuable additional capacity to assist those clients participating in…

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