Green Climate Fund approves US$170.9m in co-financing for AfDB’s Leveraging Energy Access Finance Framework program

AFRICA – The Board of the Green Climate Fund (GCF) has approved US$170.9 million in financing for the African Development Bank’s Leveraging Energy Access Finance Framework (LEAF) program which aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE)  projects in six program countries: Ghana, Guinea, Ethiopia, Kenya, Nigeria, and Tunisia. The Green Climate Fund’s financing is part of an overall US$900 million program budget whose objective is to scale up the roll-out of mini-grids, solar home systems, and commercial and industrial solar solutions in the program countries. Tony Clamp,…

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EBRD approves US$497m additional funding for the next face of its Green Climate Fund

AFRICA – The European Bank for Reconstruction and Development (EBRD) has announced the approval of additional funding for the next phase of its successful large-scale partnership with the Green Climate Fund (GCF). The US$497 million fund will support thousands of individual investments in technologies that reduce emissions and enhance resilience to climate change. The new extension will help maintain momentum and continue scaling up gender-responsive green financing. It is estimated that the latest extension will avoid CO2 emissions of 800,000 tonnes per year, which is equivalent to retiring 125 MW…

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