IFC lends $534M to ENGIE to boost renewable energy in emerging markets
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a landmark green and sustainability-linked loan of €500 million ($534 million) to ENGIE S.A. , the parent holding company of the ENGIE Group. IFC said in a statement on last Thursday that the financing aims to bolster ENGIE’s efforts to expand its renewable energy portfolio in emerging markets and decarbonize its activities. It is also designed to advance Poland’s decarbonization goals and enhance energy security in South Africa by promoting clean and sustainable energy solutions, it added. According to the statement, the loan includes ambitious climate targets as well as innovative occupational health and safety commitments. It is co-financed with two other development finance institutions, the Asian Infrastructure Investment Bank (AIIB) and Société de Promotion et de Participation pour la Coopération Economique (Proparco). In addition, IFC is mobilizing capital from seven...
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