Sunref Nigeria

SUNREF, AFD's green finance label. Funded by AFD, SUNREF (Sustainable Use of Natural Resources and Energy Finance) provides long-term, low interest rate financing to local commercial banks across Africa and other developing countries for on-lending to renewable energy and energy efficiency projects (including green mini-grids). The program also includes technical assistance for the banks and their clients. Loans allocated by local partner banks, investment premiums and free technical assistance depending on the geographical area: the SUNREF[1] range of services is tailored to allow companies to acquire higher quality equipment, make cost savings and be more competitive. The SUNREF Nigeria programme seeks to improve access to energy through improved access to affordable finance for renewable energy technologies and energy efficient initiatives that will improve lives, increase economic opportunities, and support various sectors such as industry and agriculture. The SUNREF initiative has been deployed in over 30 countries and successfully supported over 42 projects in partnership with about 70 banks to the tune of about €2.5 billion from the AFD, of which €1.2 billion has been paid.