{"id":53006,"date":"2020-12-28T09:58:08","date_gmt":"2020-12-28T09:58:08","guid":{"rendered":"https:\/\/theelectricityhub.com\/?p=53006"},"modified":"2020-12-28T09:58:08","modified_gmt":"2020-12-28T09:58:08","slug":"ifc-to-provide-200m-for-clean-energy-financing-in-south-africa","status":"publish","type":"post","link":"https:\/\/theelectricityhub.com\/ifc-to-provide-200m-for-clean-energy-financing-in-south-africa\/","title":{"rendered":"IFC to Provide $200M for Clean Energy Financing in South Africa"},"content":{"rendered":"<ul>\n<li>The International Finance Corporation (IFC) and Nedbank have partnered to provide financing for renewable energy projects.<\/li>\n<li>The loan agreement will see the IFC provide $200m for financing clean energy projects in South Africa.<\/li>\n<\/ul>\n<p>The International Finance Corporation (IFC) has partnered with South African Bank Nedbank to increase clean energy financing in the country; Under the agreement, the IFC will provide $200m for renewable energy projects.<\/p>\n<p>The $200m loan agreement is indicative of the financier&#8217;s attempt to develop the country&#8217;s climate finance market and support the government\u2019s drive to a low-carbon economy. South Africa aims to reduce its greenhouse gas emissions by 4as much as 42 per cent by 2025 and reduce the role of coal in its energy mix by 2050.<\/p>\n<p>According to Adamou Labara, IFC Country Director for South Africa, the agreement is necessary given the economic difficulties caused by the COVID-19 pandemic and the need for solutions in the immediate future. &#8220;It is essential that we seize this opportunity to rethink the structure of our economies, to build a fairer, more resilient and low-carbon future,\u201d he added.<\/p>\n<div class=\"post_content\">\n<div class=\"post-wrap\">\n<p>According to Arvana Singh, the Head of Sustainable Financial Solutions at Nedbank, the transaction demonstrates Nedbank\u2019s commitment to engage in alternative climate finance mechanisms. &#8220;This transaction demonstrates Nedbank\u2019s commitment to engage in alternative climate finance mechanisms that will further develop markets and support projects that create positive impacts aligned with UN sustainable development goals,&#8221; he said.<\/p>\n<p>Nedbank, Africa&#8217;s first carbon neutral bank, launched South Africa&#8217;s first Commercial bank initiated green bond on the Johannesburg Stock Exchange in 2019.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The International Finance Corporation (IFC) and Nedbank have partnered to provide financing for renewable energy projects. The loan agreement will see the IFC provide $200m for financing clean energy projects&hellip; <\/p>\n","protected":false},"author":3,"featured_media":53009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[219,223],"tags":[],"class_list":["post-53006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-2","category-renewable-energy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IFC to Provide $200M for Clean Energy Financing in South Africa &#8226; The Electricity Hub<\/title>\n<meta name=\"description\" content=\"The International Finance Corporation (IFC) has partnered with South African Bank Nedbank to increase clean energy financing in the country.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theelectricityhub.com\/ifc-to-provide-200m-for-clean-energy-financing-in-south-africa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFC to Provide $200M for Clean Energy Financing in South Africa &#8226; 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