AfricaGoGreen Fund for Renewable Energy and Energy Efficiency

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The FC participation in the AfricaGoGreen Fund for Renewable Energy and Energy Efficiency (AGG) supports the G20 initiative Compact with Africa (CwA). The aim of the AGG is to finance private investments in renewable energy (RE) and energy efficiency (EE) in order to improve access to clean energy and sustainably reduce the energy consumption of micro, small and medium-sized enterprises (MSMEs) and private households. The fund will contribute directly and indirectly to reducing and avoiding anthropogenic greenhouse gas emissions through long-term loans, subordinated loans and guarantees via commercial banks. Over the term of the fund, 18,500 MSMEs are to receive financing for RE and EE investments, saving 2.9 million tonnes of CO2. The accompanying measure offers technical advice to local financial institutions and support in project preparation for private investors in the field of renewable energy and energy efficiency. In addition, it promotes approaches to increase the demand side, including possible synergies with other market participants and meaningful cooperation.