African Development Bank, Nordic Development Fund and Partners launch Off-Grid Energy Access Fund with US$58 millio…

The African Development Bank, the Nordic Development Fund and other partners have committed US$ 58 million to support the Off-Grid Energy Access Fund (OGEF).

The Fund is part of the Bank’s sponsored Facility for Energy Inclusion (FEI), a US$500 million debt platform to mobilize capital market funds for innovative energy access strategies. The first financial close, which took place 2 August, follows the official launch of FEI at the Africa Energy Market Place (AEMP), which was held in Abidjan from 5-6 July. The initiative was presented to representatives of five African countries – Côte d’Ivoire, Ethiopia, Egypt, Nigeria and Zambia – as well as leaders from the private sector and development partner communities.

FEI is a flagship programme and part of the Bank’s New Deal on Energy for…

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