South Africa: $10m line of credit to help SMMEs invest in energy efficient projects
2 November 2012
Creamer Media's Engineering News - The International Finance Corporation (IFC), the World Bank’s private-sector lending arm, is partnering with Sasfin Bank to develop a portfolio of energy efficiency and renewable-energy financial products for small, medium-sized and micro enterprises (SMMEs) in South Africa.
The partnership would see the formation of a new advisory services agreement, which would support a $10-million line of credit to expand lending to projects that would help smaller businesses become more energy efficient, sustainable and more competitive.
The programme would be cofunded by the Swiss State Secretariat for Economic Affairs (Seco) and follows an earlier engagement during which the US Agency for International Development funded and assisted Sasfin to develop its financing strategy in consultation with the IFC.