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IDC, AFD sign €60m credit agreement for green projects

5th August 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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South Africa’s Industrial Development Corporation (IDC) has signed an agreement with France’s development agency, Agence Française de Développement (AFD), for a €60-million credit line aimed at local small-scale green projects.

The facility, a collaboration under the Sustainable Use of Natural Resources and Energy Finance initiative, provides long-term loans on attractive terms for developers who find it difficult to access funding for renewable-energy and energy efficiency projects.

The IDC will use the credit line to provide loans directly to small and medium-sized companies according to certain criteria, such as the size of the project and the environmental impact of the project.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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