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Recently, the International Finance Corporation, a member of the World Bank Group, announced that it has established a financial partnership with the Canadian government to use public funds to invest in the private sector to stimulate renewable energy projects in sub-Saharan Africa
.
The project, known as the Canada-Africa Renewable Energy Africa Renewable Energy Project, will use the example of a $122 million contribution from the Government of Canada, and IFC will reduce changes by providing concessional financing and IFC's own account resources, thereby promoting private sector investment in renewable energy risks that can discourage private investment
in renewable energy.
This programme is expected to improve access to affordable and sustainable energy services, reduce dependence on fossil fuels and bring African countries closer to achieving their sustainable development goals
.
The Government of Canada aligns with its commitments under the 2015 Paris Agreement while aligning with the principles of the African Renewable Energy Initiative, which aims to accelerate renewable energy generation capacity
in Africa.
Canada's Minister for International Development believes that "tackling climate change is a major priority for our generation, and harnessing Africa's abundant natural resources to provide clean and sustainable energy is a step
in that direction.
" Canada is proud to be part of this initiative, which is based on our successful integration
with the IFC Canada Climate Change Project.
”
"Creating opportunities for renewable energy investment is critical for the people of Africa and good for the world at large
," said the IFC CEO.
The expansion of renewable energy in Africa has already generated tens of thousands of local jobs, especially in new areas such as energy storage and off-grid solar, projects that give the economy and development additional growth potential
.
”
(This article first published cable network: /, please indicate the source for reprinting)
Recently, the International Finance Corporation, a member of the World Bank Group, announced that it has established a financial partnership with the Canadian government to use public funds to invest in the private sector to stimulate renewable energy projects in sub-Saharan Africa
.
The project, known as the Canada-Africa Renewable Energy Africa Renewable Energy Project, will use the example of a $122 million contribution from the Government of Canada, and IFC will reduce changes by providing concessional financing and IFC's own account resources, thereby promoting private sector investment in renewable energy risks that can discourage private investment
in renewable energy.
This programme is expected to improve access to affordable and sustainable energy services, reduce dependence on fossil fuels and bring African countries closer to achieving their sustainable development goals
.
The Government of Canada aligns with its commitments under the 2015 Paris Agreement while aligning with the principles of the African Renewable Energy Initiative, which aims to accelerate renewable energy generation capacity
in Africa.
Canada's Minister for International Development believes that "tackling climate change is a major priority for our generation, and harnessing Africa's abundant natural resources to provide clean and sustainable energy is a step
in that direction.
" Canada is proud to be part of this initiative, which is based on our successful integration
with the IFC Canada Climate Change Project.
”
"Creating opportunities for renewable energy investment is critical for the people of Africa and good for the world at large
," said the IFC CEO.
The expansion of renewable energy in Africa has already generated tens of thousands of local jobs, especially in new areas such as energy storage and off-grid solar, projects that give the economy and development additional growth potential
.
”
(This article first published cable network: /, please indicate the source for reprinting)
/
