IFC strikes green lending deal with Business Partners

Image Credit: Pixabay

Making its first South African loan dedicated to green lending for commercial properties, IFC has agreed to provide Business Partners, a non-banking entity that provides SMEs with financing, mentorship, and other support programs, with $42 million to fund the development and construction of environmentally-friendly industrial and retail sites for SMEs to use.

The loan capital will be used to build certified green commercial buildings in South Africa or to perform renovations to existing buildings and improve their energy efficiency by at least 20%. An IFC study estimates that South Africa’s green building demand presents a $7 billion investment opportunity between 2016 and 2030, and while the supply of green buildings in the country is growing, the green building market is still at a nascent stage.

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