AFD, Afreximbank sign 150m euro agreement on climate finance

Agence Française de Dévelopement (AFD) and Afreximbank have signed an agreement for a 150 million euro financing programme to support the bank in the implementation of its new climate finance strategy targeting green, low carbon, socially inclusive and more resilient investments across Africa.
As part of its financing programme, AFD has made available a EUR 500,000 grant to carry out a technical assistance program which will support Afreximbank in developing sustainable finance strategy. The partnership will promote through Afreximbank and its partnering institutions, the dissemination of innovative financing mechanisms for sustainable development of the African continent.
As the continent commences the implementation of the African Continental Free Trade Agreement (AfCFTA) early next year, it looks forward to unlocking new funding arrangements to finance sustainable projects and sectors to build Africa’s long-term competitiveness and resilience. It is estimated that the climate change is impacting negatively on Africa’s GDP by 2.8per cent yearly (around USD 100 billion).

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AFD, Afreximbank sign 150m euro agreement on climate finance

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