Development finance

Trading impact credits based on social outcomes is proving a success in some places and should be scaled up to offset constraints on social funding, a new report concludes.

The Scatec-owned project in central Egypt, to be operational in 2026, is being fast-tracked as part of efforts to alleviate the country’s energy crisis.

The new facility will support clean energy integration across South Africa, create 20,000 jobs and boost the local economy in the country’s Eastern Cape province.

Six public development banks from Europe and Asia launched the Clean Oceans Initiative 2.0 as the third United Nations Ocean Conference kicked off this week.

The study found that every $1 invested in climate adaptation and resilience generates more than $10 in benefits over ten years.

The Danish development finance institution has also introduced a new private-public initiative, the Danish SDGII Fund. It wants its new branding to reflect its international outlook and global partnerships.

The consortium, which includes global companies and philanthropic organisations, sees collaborative efforts as a way to close the financing gap for education globally.

The investment was made by Norwegian, Swedish and British development finance institutions to support the development of clean and climate-positive technologies in Africa.

The Water Access Acceleration Fund attracted commitments from international development finance institutions, foundations, family offices, and private investors.

Commitments from a range of financial services organisations and from development finance capital will allow the fund to invest as much $1bn in next-generation infrastructure across Africa and Asia by 2028.