French Agency Loans €120m for Small Renewable Energy Businesses in South Africa
One hundred and twenty Euros ($175 million) has been made available to fund renewable energy and efficiency improvement projects of small and medium sized businesses in South Africa.
The funding
French development bank Agence Française de Développement (AFD) announced, at the end of September 2009, that it would be extending a €120-million credit facility to commercial banks in South Africa, to be used for smaller energy efficiency and renewable energy projects.
South African banks Absa, Nedbank and the Industrial Development Corporation are to distribute the credit as loan capital for the projects of small and medium sized enterprises (SMEs).
