BANK of Africa Tanzania has signed a credit facility agreement with the French Development Agency (AFD) worth 11.84 million US dollars (about 25.67bn/-) for lending to renewable and efficiency energy projects in Tanzania.
The bank’s Chief Executive Officer
(CEO), Mr Ammishaddai Owusu-Amoah, said in Dar es Salaam yesterday at
the signing ceremony that the innovative programme will enable the bank
to provide both short and long term funding at attractive interest,
lower than the usual commercial rates.
“The credit line is accompanied with a
technical assistance programme funded through European Union to support
and enable the bank to strengthen its capacities in green finance,” he
said. Both institutions confirmed the collaboration through the
Sustainable Use of Natural Resources and Energy Finance (SUNREF).
He said the technical advice will also
provide expertise for potential investors and project developers to
further build on their expertise in developing viable renewable and
efficiency energy investments.
“This support covers the entire
investment process and include projects preparation, risk assessment and
bank capacity building,” he added.
On his part, the AFD East Africa
Community Regional Director, Mr Bruno Deprince, said AFD supports local
banks in identifying green investment opportunities and in allocating
green loans with favourable conditions for tailor made debt.
The programme is designed to help
businesses seize the opportunities created by the ecological transition
by enhancing the banking sector to finance renewable energy and
efficiency.
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