- The UK’s development finance institution CDC Group has announced its US$20 million stake in a syndicated loan totaling US$80 million, which is the largest commercial debt facility in the off-grid energy sector. The facility has helped invest in pay-as-you-go solar energy firm M-KOPA, in which CDC has made a US$12 million equity investment. M-KOPA provides off-grid energy to around half a million low-income households in Kenya and Uganda.
- The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) are providing a €215 million loan to Čibuk 1 wind farm, the largest wind project in Serbia and the Western Balkans.
- IFC has also issued a five-year green bond that raised US$1 billion from investors for climate-smart investments in emerging markets. The issuance over two and half times oversubscribed and is the third of its kind to be issued by IFC since 2010. IFC’s total green-bond issuances now amount to more than US$7 billion.
- Proparco, the private investment arm of France’s Agence française de développement (AFD) has signed a new agreement with west Africa-focussed investment firm Teyliom to provide €8.5 million in funding for the construction of an upscale hotel in Niamey under the Noom brand name. The investment is expected to attract investment to sub-Saharan Africa, in which countries such as Niger maintain annual per capita income of less than US$600.
- Together, both Proparco and the Dutch development bank FMO have signed a US$30 million loan to lender Banque Populaire du Rwanda, for which both development finance institutions each provided US$15 million. Proparco acted as the mandated lead arranger on the credit facility.
- The board of directors of the African Development Bank Group (AfDB) has approved a multi-currency credit line of US$ 100 million and 1.3 billion South African Rands to the Industrial Development Corporation Plc of South Africa for support of industrialsation projects in South Africa and other regional member states.
- The Asian Development Bank (ADB) and the government of Vanuatu have signed agreements for a US$15.1 million project to enhance renewable energy generation and energy access in the Pacific islands of Malekula and Espiritu Santo.
- The ADB’s board of directors have has also approved a US$2 million grant to introduce better public financial management through the ministry of finance for the Marshall Islands. The grant will also be used to implement state-owned enterprise reforms, such as making subsidies more cost-effective at delivering public services.
- The Japan International Cooperation Agency (JICA) signed a loan agreement with the government of the Republic of Nicaragua in Managua to provide a Japanese state-backed loan of up to 4.94 billion yen for the Rio Blanco-Siuna Bridges and the country’s road construction project.
- The Inter-American Development Bank (IDB) has meanwhile approved a US$100 million credit Line for investment projects to galvanise corporates in Uruguay to pursue innovation, start new entrepreneurship and research projects, as well as invest in human capital. An initial US$25 million aims to consolidate public policies on science, technology and innovation by providing technical and financial support to the National Agency for Research and Innovation.
- The Inter-American Investment Corporation (IIC), the private sector arm of the IDB Group, has signed a revolving credit facility of 420 million Mexican pesos with small to medium-sized loan provider Mezzanine Mexico Uno to boost middle-market companies’ access to mezzanine products.