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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