SOUTH AFRICA: IFC and FMO Fund SME Green Projects through FirstRand

The International Finance Corporation (IFC), a subsidiary of the World Bank Group, joined with the Netherlands Development Finance Corporation (FMO) to provide a $225 million loan to FirstRand Bank, based in South Africa. The funds will be used to finance green projects of South African small and medium-sized enterprises (SMEs). Small and medium-sized enterprises (SMEs) are at the heart of sustainable development policies in South Africa. This role will be further enhanced by a $225 million package made available to them by the World Bank Group’s International Finance Corporation (IFC)…

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