- The AFD and the EU will partner to provide green financing for corporate renewable energy development in the Ivory Coast.
- The AFD will work with local financing institutions to promote clean energy in the private sector.
The French Development Agency (AFD) has signed a project financing agreement with the European Union and the General Confederation of Businesses in Ivory Coast (CGECI). The CFA1 billion francs (€1.67 million) agreement will support Ivorian companies in developing renewable energy and energy efficiency systems. According to the AFD, “the technical assistance program, financed by the European Union, aims to support private investment promoters and carry out awareness-raising and training actions for the various potential investor groups and the rest of the Ivorian ecosystem.”
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AFD’s programme tackles the financing challenge in the renewable energy sector in sub-Saharan Africa. AFD’s green financing programme works with local banks to accelerate clean energy adoption in low-income countries. AFD will partner with local financial institutions, notably the Société Générale Ivory Coast (SGCI) and the New Inter-African Insurance Company (NSIA) to provide green finance for Ivorian companies. This will enable developers to deploy energy efficiency and renewable energy projects for the private sector, accelerating the clean energy transition.
This programme is also being implemented in Namibian companies in collaboration with the Namibian subsidiary of Nedbank. The AFD provides a line of credit to finance corporate renewable energy projects.