ESG & Investing
African Development Bank Plans $1.5 Billion Green Facility
- Fund will work with banks, governments around the continent
- End of 2025 is target for raising the full amount, AfDB Says
Solar panels power a green hydrogen producing electrolyzer plant in Mogalakwena, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
The African Development Bank is setting up a $1.5 billion green finance facility to help meet surging demand for money to develop clean energy and defend infrastructure against floods, storms and rising seas exacerbated by global warming.
The facility will be formally unveiled at the COP27 climate summit taking place in Egypt next month.