Multinational: African Development Bank’s Sustainable Energy Fund for Africa Approves $5.65 Million to Pioneer New Climate Finance Instrument for Off-Grid Renewable Energy projects in Africa’s Fragile States

Mar 25, 2026
African Development Bank
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The African Development Bank Group’s Board of Directors has approved a $5.65 million reimbursable grant from the Sustainable Energy Fund for Africa (SEFA) to pilot the Peace Renewable Energy Certificate (P-REC) Aggregation Facility, a pioneering initiative that will, for the first time, deploy renewable energy certificates as a direct funding instrument for a portfolio of mini-grids across Africa’s most fragile and energy-poor countries.