Against the backdrop of an increasingly risky economic climate and growing demand from borrowers, the development finance sector continues to push the boundaries on projects and fundraising to offset the direct and indirect dangers posed by climate change. More
A Dutch pension fund is considering investment in the second round of IFC’s MCPP One Planet which should close by H1 2025.The MCPPs are a series of eight syndicated lending platform facilities for co-investment in an IFC portfolio of loans. With this structure, IFC retains as much exposure for... More
The Ministry of Energy of Azerbaijan has announced the country’s first renewable energy auction for a 100MW solar power plant project in Gobustan. Interested parties are invited to submit their statements of qualification by 14 June. The country has committed to increasing the renewable... More
The long-hoped-for first report on recovery rates from the Global Emerging Markets Risk Database (GEMs) consortium was published last month, and quickly followed by similar reports from IFC and IBRD. It's progress – but is the number crunching sufficiently granular to meet the needs of all... More
IFC is looking to bring out its first warehousing securitisation pilot by the calendar year-end, with RFP for the arranger closing last week. The warehousing and securitisation platform would co-finance new loans by MDBs at origination, with the intention of only holding the loans until they... More
ADB and Philippine National Bank are financing Buskowitz Solar's project to support clean and affordable solar energy for commercial and industrial consumers in the Philippines. The project will generate 88 gigawatt-hours of clean electricity annually and reduce 54,000 tonnes of carbon dioxide... More
USAID's leadership team is undergoing a shake-up in the final year of President Joe Biden’s first term.Deputy Administrator Paloma Adams Allen plans to leave the agency, three sources said. Adams Allen is USAID’s second in command, who supervises the overall management, budgeting,... More
The World Bank has suspended financing intended to develop tourism in southern Tanzania after allegations of killings, rape and forced evictions.The bank began investigating last year after being accused of enabling abuses around Ruaha national park, which was due to double in size as part of a... More
Eiffel Investment Group is launching the first impact unitranche fund for smaller funds.The Paris-based asset manager focuses on sustainable investments. It manages around €6 billion (£5.1 billion) of assets, half of which is invested in private debt and €2 billion of which is... More
Leaders of ten multilateral development banks have committed to take action in five critical areas, including additional lending headroom totalling $300 billion-$400 billion over the next decade.The effort comes amid growing calls for these institutions to boost financing under favourable conditions... More
BNDES has approved financing of BRL24.5 million ($4.7 million) for Madeira Plastica Ambiental to expand its plastic wood production facility in Uniao da Vitoria, Parana. This investment will double the current installed capacity, allowing the company to produce 2,000 tonnes of plastic wood per... More
Mongolia's government and a coalition of partners have signed a nature finance agreement aimed at protecting 35.6 million acres of the country's lands and waters, including the world's last great tract of temperate grassland. The agreement dubbed "Eternal Mongolia" will... More
Divani Caravel, Leof. Vasileos Alexandrou 2, Athina 161 21, Greece
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Full detailsAlgeria is close to joining the New Development Bank.Joining the bank - formed by Brazil, Russia, India, China, and South Africa - can ontribute to financing development, and strategic and structural projects for the Algerian economy. Dilma Vana Rousseff, Chair of the NDB, said: "This... More
EBRD and World Bank have penned an MoU to enhance their collaboration and respond to global challenges together more effectively.The MoU identifies key areas of cooperation: climate, connectivity, economic resilience and recovery in Ukraine and private sector engagement. On Ukraine, EBRD and... More
BNDES has signed a BRL200 million ($38 million) sustainability-linked loan (SLL) for zinc producer Nexa Resources. The eight-year loan is priced at benchmark TLP long-term interest rate plus 1.84% and has a two-year grace period. BNDES will cut the rate to TLP plus 1.44% if the company meets... More
AIIB and the European Stability Mechanism have renewed their MoU to build on their collaboration and further enhance inter-institutional cooperation.The renewed MOU outlines a comprehensive framework for inter-institutional cooperation and both institutions may provide mutual technical assistance in... More
New financial instruments designed to boost lending capacity and enable the World Bank Group to take on more risk for shared global challenges have received a significant endorsement. A set of 11 countries announced commitments for the Portfolio Guarantee Platform, hybrid capital mechanism, and new... More
Africa's economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth, AfDB President Akinwumi Adesina warned.Adesina highlighted the challenges posed by Africa's ballooning external debt, which... More
Korea Development Bank and five major commercial banks have signed an agreement for the creation of a future energy fund for the purpose of investing in renewable energy facilities.The banks will make contributions to create a future energy fund worth a total of KRW9 trillion ($6.5 billion) until... More
EIB has entered into a loan agreement with the regional government of Andalusia, amounting to €215 million ($229 million). This loan will be used to co-finance social, green, and digital investment projects in the region.The collaboration aims to support the dual transitions towards green and... More