A loan of $300 million will be given to the Development Bank of Southern Africa (DBSA) without sovereign guarantee. The money will be used for greenhouse gas emission reduction and energy sector development projects.
These projects will contribute towards the improvement of energy sector mix and increase South Africa’s energy efficiency while reducing its dependence on coal.
New Development Bank (NDB) provided a $76 million loan with a maturity period of 17 years to 100 MW Shanghai Lingang Distributed solar power project. This was the first project funded by NDB for which construction work has begun.
The African Development Bank (AfDB) recently approved a $1.5-million grant from the Sustainable Energy Fund for Africa (SEFA) to support the Nigerian government’s implementation of Phase 1 of the Jigawa 1-GW Independent Power Producer (IPP) Solar Procurement Program.
The World Bank approved $180 million in assistance to Kenya to strengthen the financial health of the Kenya Electricity Generation Company Limited (KenGen) and improve private sector financing in the energy sector of the East African country.