Tuesday, March 29, 2011

AfDB creates $57 mln Africa renewable energy fund

The African Development Bank (AfDB) has established a $57 million fund for renewable enery projects across the continent. The Denmark-backed Sustainable Energy Fund for Africa joins two other similar green energy funds in the region worth $6 billion being run by the AfDB and twelve non-African donor countries.

"It is a clean investment... in only clean renewables," Youseff Arfaoui, the bank's chief renewable energy specialist, told Reuters on the sidelines of an African power conference in South Africa's commercial capital.

Source: Reuters

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