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AFD, Afreximbank pump €150 in green finance in Africa

The French Development Agency supports African SMEs via a counter-guarantee  of USD 30 million to the African Guarantee Fund | AFD - Agence Française de  Développement

(Ecofin Agency) – The French Development Agency (AFD) and the African Export-Import Bank (Afreximbank) agreed to pump €150 million worth of green, low carbon, socially inclusive, and more resilient investments in the continent.

AFD has made available a €500,000 grant for a technical assistance program for the development of Afreximbank’s climate finance strategy. Ultimately, this partnership will enable the expansion of sustainable development financing mechanisms in Africa.

Read also; Nigeria’s Lekoil Raises $100m For Ogo Oilfield Drilling

The effects of climate change are costing the continent $100 billion, or 2.8% of its annual GDP. To meet this challenge, solutions must be developed both to mobilize external financing and to put in place more specific and appropriate instruments to accelerate and strengthen sustainable development.


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This facility will improve Afreximbank’s capacity to increase its climate finance. “This will help create value from environmental assets and promote climate-friendly investments to support African governments and companies in their quest for infrastructure financing and social and economic development,” said Amr Kamel (pictured), Afreximbank’s Vice President for Business Development and Corporate Banking.

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Nichole discussed the funding activity recorded on the GFA platform and deep dive into the blockchain industry in Africa.

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Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

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