The African Development Bank has just given a boost to actions to combat decarbonization in African economies and to promote just energy transition. More than 30 million dollars have been released in this context, or 18 billion CFA francs.

This is increased funding for emerging projects and companies in the fields of industrial appliances, electric mobility and green buildings, which are essential to the decarbonisation of African economies and a just energy transition. These new investments are in addition to the $11.5 million capital injection approved by the Nordic Development Fund (NDF) in December 2021.

Launched in early 2021 with €45 million in catalytic capital, the AfricaGoGreen Fund is a flagship project under the G20 Compact with Africa. The AfricaGoGreenFund provides flexible and tailored debt instruments to private companies in green appliances for domestic and industrial processes, green buildings, electric mobility solutions and battery energy storage projects.