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Climate Finance

World Bank lends $200m for South African renewables

The private sector arm of the multilateral development bank has offered a $200 million credit line to Nedbank, the first commercial bank in South Africa to offer a green bond, which it did on the Johannesburg Stock Exchange in 2019.

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Renewables are now the cheapest source of energy, says EBRD

Announcing its participation at the FT Climate Finance Summit in London, the bank says that through targeted financial commitments, increasing competition and progressive policy changes, prices for renewable energy resources have come down to US$0.025/ kWh in Egypt and Jordan, for example. The bank calls for a change in investment practices to further this development.

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