16 July 2024

n°158
newswatch

Jul 15
Colombia: BBVA and IFC Launch World’s First Biodiversity Bond to Combat Biodiversity Loss
BBVA and the International Finance Corporation (IFC), a member of the World Bank Group, have issued a US$15 million first tranche of the world's first biodiversity bond, which will eventually amount to US$70 million. The bond aims to finance projects that address key drivers of biodiversity loss, focusing on reforestation, natural forest regeneration on degraded lands, climate-smart and regenerative agriculture, and wildlife habitat restoration.
Source: Devdiscourse
Jul 15
C. G. Nnawetanma: A Blended Finance Solution for African Small Businesses
Small- and medium-sized enterprises in Africa face numerous barriers to access financing. Development specialist Chinedu George Nnawetanma proposes an innovative solution called the interest rate subsidy grant.
Source: Devex
Jul 15
Roots of Impact Attracts Funding to Develop Impact-Linked Finance
The German investor believes offering financial incentives to companies if they hit social impact targets should play a greater role in investment strategies.
Source: Impact Investor
Jul 15
Brazil Launches Fund for Early-Stage Sustainable Projects
Brazil's Treasury and Securities and Exchange Commission (CVM) are launching a fund consortium to attract private investment in early-stage sustainable projects. The fund will function like private equity funds (FIPs) and receivables investment funds (FIDCs), providing capital for ecological transformation projects.
Source: Finimize
Jul 15
South Africa to Raise $2.4 Billion from Climate Pact This Year
While the pact was initially inked in 2021 a series of procedural setbacks and infighting in the South African government over a promise to shut coal plants has delayed its implementation.
Source: Bloomberg
Jul 15
India: BluSmart Raises $24 Million in Pre-series B Funding Round
BluSmart, India and South Asia's first and largest vertically integrated EV RideHailing service and EV Charging Infrastructure network, has announced the successful completion of Pre-Series B funding round securing $24 million (Rs2 billion) in investment.
Source: Khaleej times
Jul 11
Uzbekistan Mobile Bank TBC Raises $38.2m to Expand Its Financial Products
Uzbekistan’s only mobile-exclusive bank, TBC Bank Uzbekistan, owned by London Stock Exchange-listed TBC Bank Group, has raised $38.2 million in a fresh equity investment. It plans to expand its local presence in the country and introduce new financial products as well.
Source: TechCrunch
Jul 11
Schneider Electric Energy Access Asia & Spark+ Africa Closes US$ 3.75m Series A Investment in ATEC for Global South Expansions
Schneider Electric Energy Access Asia (SEEAA), an impact fund managed by Schneider Electric, the leader in the digital transformation of energy management and automation, along with Spark+ Africa Fund closes US$3.75M Series A in ATEC to support global expansion across Asia & African markets of its market-leading IoT electric stoves. Other institutional investors in the round include DRW, Save the Children Global Ventures, Kibo Investments and iDE.
Source: The Globe and Mail
Jul 11
F. Seegull, President of the U.S. Impact Investing Alliance: Free Markets and Impact Investing in the Aftermath of the Supreme Court’s Rulings
Alongside this power shift from the agencies to the courts, impact investors should also pay mind to the attacks against their strategies.
Source: ImpactAlpha
Jul 10
Global Fund for Coral Reefs Approves More than US$25 Million in Additional Funding for Resilience Action
In the face of increasing threats to coral ecosystems and the recent announcement of a fourth global coral bleaching event, the Global Fund for Coral Reefs (GFCR) Executive Board has announced over US$25 million in additional grant funding to scale-up resilience efforts across coral nations. Announcements include a new blended finance programme for Egypt’s Red Sea, funded by the United States Agency for International Development (USAID).
Source: UNEP

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