LEREKO METIER SUSTAINABLE CAPITAL FUND

completed

 The proposed investment involves an equity investment by IFC of up to US$20 million in the Lereko Metier Sustainable Capital Fund Trust (“LMSC” or “the Fund”). The Fund is seeking to raise up to US$120 million and will undertake investments in clean technology initiatives including renewable energy, energy efficiency, water, and waste sectors in South and Southern Africa. The Fund’s investment strategy will be achieved by acquiring control and significant minority positions in projects and businesses that fall within its intended sectors. LMSC will seek out opportunities where it has a competitive ownership advantage over other sources of capital to deliver value in the strategic, operation and governance development of its investments. The Fund plans to limit technology risk by focusing on investments with an established international business model or commercially proven technology that is implemented locally and accepted by local lenders. The Fund will make 10-15 investments in the target sectors.