IFC proposes investment in Cygnum Capital fund
The IFC has disclosed a proposed follow-on investment of up to $23 million in the Africa Go Green fund.
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The International Finance Corporation (IFC) has disclosed a proposed follow-on investment of up to $23 million in the senior debt tranche of Africa Go Green, a pan-African greenhouse gas emissions reduction debt fund focused primarily on energy efficiency and renewable energy opportunities. The fund is managed by Cygnum Capital.
Africa Go Green is raising up to $310 million in capital, comprising debt, senior equity and junior equity. The fund provides medium- to long-term debt, mezzanine financing, guarantees and technical assistance for projects in sectors including industrial energy efficiency, green housing, green appliances and green mobility.
The proposed investment follows IFC’s $47 million financing package for Africa Go Green in 2023.
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