United Nations plans to accelerate access to clean energy by 2025 in Africa

AFRICA – The United Nations (UN) has announced a new plan to accelerate the transition to renewable energy in the least developed countries, particularly in Africa. The organization intends to catalyze the mobilization of US$600 billion for electrification and access to clean cooking by 2025. In Africa alone, 550 million people still do not have access to electricity according to…

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Zimbabwe secures US$100m from UN’s IFAD to go towards poverty alleviation projects

ZIMBABWE – The International Fund for Agricultural Development (IFAD), an arm of the United Nation, in collaboration with partners, have committed over US$100 million to go towards poverty alleviation projects in Zimbabwe, reports Business Times. IFAD has been running projects in Zimbabwe since 2015. It has been targeting irrigation schemes dubbed Smallholder Irrigation and Revitalisation Programme (SIRP). Under the US$52…

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Husk Power signs U.N. Energy Compact, pledges to build 5,000 mini-grids and connect 1 million customers in Africa and Asia by 2030

AFRICA – Husk Power Systems, a leading rural clean energy services leader and operator of the largest fleet of solar hybrid mini-grids, has announced the signing of an Energy Compact with the United Nations to scale the rural clean energy market in South Asia and Sub-Saharan Africa. Energy Compacts are voluntary commitments to Sustainable Development Goal 7 (SDG7) – access…

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SDG Fund approves US$45m renewable energy program for Zimbabwe

ZIMBABWE – The United Nations SDG-Fund has approved Zimbabwe’s US$45 million programmes on catalysing investments in Renewable Energy (RE) for the acceleration of the attainment of the Sustainable Development Goals (SDGs) in the country. The UN SDG-Fund is contributing US$10 million to the programme whilst the Government of Zimbabwe through the Infrastructure Development Bank of Zimbabwe (IDBZ) and local partners…

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InfraCo Africa, Helios partner to establish a pan-African investment vehicle

AFRICA – InfraCo Africa, a part of the Private Infrastructure Development Group, and Helios Investment Partners have joined forces to establish a pan-African investment vehicle: Climate, Energy Access and Resilience (CLEAR). CLEAR will fund climate-aligned infrastructure and growth businesses whilst also working towards achievement of the UN Sustainable Development Goals. It expects to ultimately raise more than US$350 million for…

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UN Women partners Kenya’s AFC to boost women in agriculture

KENYA – UN Women Kenya chapter, in partnership with Kenya’s  agriculture sector lender Agricultural Finance Corporation (AFC), have held a two day business to business forum in Kenya’s coastal city of Mombasa aimed at providing a platform for buyers/agro-dealers and other key stakeholders in the agri–market space to engage with women farmers. The partnership seeks to enhance awareness on local…

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Green Climate Fund approves US$60m for climate change resilience projects in Africa

AFRICA – The Green Climate Fund (GCF) board of directors has released US$60 million for four climate adaptation and mitigation projects in East and West Africa. The decision was announced during its 27th meeting, held virtually from 9th to 13th November 2020. The lion’s share, US$30 million or 50% of the total GCF allocation to Africa goes to the environmental organisation…

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KCB bank gets accreditation from UNGCF to finance green projects

KENYA – KCB bank has been accredited by the United Nations Green Climate Fund as the first financial intermediary for the implementation of green financing in East Africa, paving way for the bank to receive funds from the Green Climate Fund (GCF) for on-lending to beneficiary institutions involved in the development of green-climate resilient investment assets or projects in Kenya,…

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UNCDF invests in Tanzania’s Mpale solar power mini grid project

TANZANIA – The United Nations Capital Development Fund (The UN Capital Development Fund) has invested in a 50kW solar power micro grid project in Mpale Village, Tanzania, a project aimed at expanding access to affordable, reliable and clean energy. Access to affordable and reliable electricity is vital for Tanzania’s attainment of its socio-economic goals and it is specifically difficult in…

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Almost 25 million jobs could be lost worldwide as a result of COVID-19

GLOBAL – The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million, according to a new assessment by the International Labour Organization (ILO). The United Nations’ Labor agency suggested this was a worst-case, or high, scenario of global unemployment but said internationally coordinated policy response could mean a significantly lower impact. In…

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