Standard Bank has announced that it has closed a $300 million sustainable Tier 2 capital loan to help fund various green and social plans – including renewable energy projects across South Africa.
“This facility, earmarked for green and social projects, particularly renewable energy and affordable housing, is in line with our commitment to support and promote South Africa’s transition to a low-carbon, climate-resilient economy,” said Adamou Labara, IFC Country Manager for South Africa. Demand in South Africa, in particular, has increased exponentially since the government lifted the cap on private generation projects at the beginning of the year.
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