The London-based European Bank of Reconstruction and Development (EBRD), with its lending in the Cop 27 host country of Egypt (https://www.mees.com/2022/9/30/power-water/ebrd-funding-key-to-advancing-egypt-renewables/fcd82410-40b7-11ed-8d27-2131ba4aab91″>MEES, 30 September), has been a pioneer of the type of peer-to-peer blended finance that key international politicians and financiers say will be crucial to funding the energy transition in developing countries (https://www.mees.com/2022/11/11/power-water/egypts-implementation-cop-aims-to-unblock-the-green-finance-taps/f84f6d70-61c4-11ed-bd4b-59a530a0b80d”>MEES, 11 November).
The EBRD on 8 November announced an example, albeit a modest one, of how it sees this model working. It will lead $5.5mn of funding to Egyptian private-sector power developer Taqa Arabia to finance construction of a 7MW solar PV plant at Minya on the Nile 250km south of Cairo. (CONTINUED – 506 WORDS)
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