South Africa: Absa teams up with AFD to fund clean energy projects
12 March 2012
Creamer Media's Engineering News - March 12, 2012
Commercial bank Absa has partnered with French development finance institution Agence Français de Developpmente (AFD) to offer R400-million worth of loan financing to companies with commercially viable clean energy or energy efficient projects.
Absa head of business markets Marcel de Klerk said the agreement illustrated the bank’s focus on sustainability and green financing, as well as its aim to assist South Africa in lowering its carbon emissions and managing climate change.
Absa launched the loan facility to promote medium and large energy efficiency and clean production investments, ranging between R10-million and R100-million.