14 DAY TRIAL // Sure, Africa is about to lose its elephants, but at least the countries in this part of the world are making good progress towards improving on their ecological footprint. Or at least trying to.
Recent news says that the African Development Bank and the Climate Investment Funds have agreed to offer six countries on this continent, i.e. Ghana, Burkina Faso, the Democratic Republic of Congo, Kenya, Mali, and Mozambique, a total of $330 million (€242.7 million), which they are supposed to spend on greening up their ways.
More precisely, the money will serve to make green energy and energy efficiency more appealing to private investors, and thus boost their development. According to Think Progress, some of this money will be used to promote a more sustainable use of local forests.
As a result of their entering a partnership with the African Development Bank and the Climate Investment Funds, private companies in said African countries will receive loans, guarantees or equity that are expected to boost their interest in harvesting renewables, energy efficiency and sustainable forest use.
The end goal is to mitigate climate change and global warming.
Now that these six African countries have been chosen to receive funding to green up their ways, the folks behind this green-oriented initiative expect that the projects that are to be financed will be well pieced-together ready for their final approval sometime next year.