IFC, Absa launch green loan for energy projects

International financial institution the International Finance Corporation (IFC) has provided financial services group Absa with a loan of up to $150-million to support the bank’s strategy to expand its climate finance business and help South Africa meet its greenhouse-gas (GHG) reduction targets. In South Africa, financial institutions are critical sources of climate finance, with commercial banks providing about 67% of the financing for renewable energy projects.