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AfDB Secures $20m Investment Agreement On COVID-19 Recovery Platform

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The African Development Bank (AfDB) has reached a close on financing agreements for a $20-million-dollar concessional investment from the Sustainable

In a statement from the AfDB on Sunday, the concessional loan agreements were signed following approval by the board of directors of the bank in December 2020, for the $20-million-dollar concessional investment from SEFA, to establish the platform.

“Lion’s Head is immensely grateful for the support from the AfDB, in particular the SEFA team and funders, for developing this innovative and catalytic co-investment instrument. Joao Duarte Cunha, division manager for Renewable Energy, AfDB, said the pandemic had jeopardised the progress achieved over the last decade in electrification, through off-grid technologies across Africa.

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