The loan will be allocated to a portfolio of green and social assets for South Africa and other African nations.
The funds from this loan will reportedly be allocated to a portfolio of “green and social assets”. According to a press release, this means renewable energy and affordable housing for South Africans and the rest of the continent. This is just the latest loan Standard Bank has received from the IFC. Back in July 2023 the bank received $250 million from the IFC in the form of a sustainability loan. Importantly, that loan was specifically to Standard Bank of South Africa and not the wider Standard Bank Group as this latest loan is intended for.
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