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Canada’s Total Climate Finance Contribution:
$2,300,000 CAD
- 2010 to 2011: $2,300,000 CAD
Targeted Countries:
South Africa
Funding Period: 2010 to 2011
Type of Support:
Mitigation
Project Funded through a Canadian Facility:
IFC - Canada Climate Change Program (CCCP)
Delivery Partner(s):
Description
The IFC-Canada Climate Change Program provided support to promote enhanced lending and investments in energy efficiency, renewable energy and cleaner production projects in South Africa, particularly to small and medium-sized enterprise (SME) clients. The program funds were offered at a concessional rate to offset the additional costs of developing the new line of business. The project seeks to increase the rate of deployment of financing to support clean energy investments in South Africa, to ensure that companies become more resource efficient and competitive in the long term.
Results/Expected Outcomes
With support from Canada, this project is expected to mobilize an additional $7.7 million in co-financing from public and private sources and lead to an estimated greenhouse gas emissions reduction of 28,500 metric tons of CO2 per year.* This project is expected to encourage a stream of energy efficiency project investments, generating a range of environmental and economic benefits related to the development of this type of project.
Co-Financing/Mobilized Finance ($CAD):
$7,700,000
Estimated GHG (metric tons of CO₂) Reduction Associated with Project (per year)Disclaimer *:
28,500