IFC proposes $20m to African renewable energy

The member of the World Bank Group is pushing further into renewables investing.

International Finance Corporation (IFC) has proposed to invest up to $20 million in equity to Berkeley Energy’s Africa Renewable Energy Fund (AREF).

The proposed commitment comes from the IFC Catalyst Fund, which is managed by the IFC Asset Management Company.

The $200 million AREF focuses on renewables investments in Sub-Saharan Africa area.

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