AfDB finalises $20m off-grid recovery platform financing agreements

Development finance institution the African Development Bank (AfDB) has reached financial close on financing agreements for a $20-million of concessional investment from the Sustainable Energy Fund for Africa (Sefa) for the Covid-19 Off-Grid Recovery Platform (CRP). The five-year, $50-million CRP blended finance initiative is designed to provide relief and recovery capital to energy access businesses, supporting them through and beyond the pandemic, the bank said on August 15.