Three massive Green Climate Projects in Africa worth over US$110mln

Three massive Green Climate Projects in Africa worth over US$110mln

During October 17-20, 2018 Green Climate Fund held a meeting in Manama, Bahrain. It was the 21st board meeting which was co-chaired by Paul Oquist from Nicaragua and Ambassador Lennart Båge from Sweden. GCF got three proposals from African Development Bank which was worth over US$110 million. 20 funding proposals were considered in this meeting which was worth US$1.2 billion. The three projects proposed by AfDB were – Programme for Integrated Development and Adaptation to Climate Change in the Niger (PIDACC/NB) Democratic Republic of Congo (DRC) Green Mini-Grid and Yeleen Rural Electrification Project in Burkina Faso. The first project will get US$57.8 million grant and a US$10 million concessional loan. This project was further funded by several other sources which estimated US$147 million. So the total stands for US$214.8 million. It will ensure a reduction of 7 million tCO2eq emissions. The second project will receive US$20 million senior loan, and US$1 million grant and also another US$20 million senior loan, and US$1 million grant from the Bank. So for this project, the total will be US$40 million senior loan, and US$2 million grant. This project will reduce 560,000 tCO2eq emissions. The third project received approval for US$28.3 million. With co-financing