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Investment Grant for Financing Energy Efficiency and Renewable Energy Investments of Private Companies in West Africa

Western Africa
Grant Amount
EUR 4,500,000
Total project cost
EUR 45,000,000
Under disbursement
PFG Lead Financier

AFD is setting up a concessional facility of EUR 30m, which aims to engage regional and local banks in financing more efficient use of energy and ensure the promotion of renewable energy in the private sector.

In 2015, the consultants supported local banks to identify a portfolio of potential eligible projects. More than 50 projects have been identified that can benefit from technical support before being submitted to partner banks. Among these projects, a sample of mature projects has been selected by the banks to be financed. AFD gave its non-objection for the financing of these projects in December 2015. In addition, the marketing strategy and capacity building activities for local banks and potential project developers are on-going. Two rounds of coaching sessions have been successfully implemented in all partner banks. In parallel, 4 banks have decided to join the SUNREF program in order to implement the EUR 30 m Loan Facility provided by AFD.