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.