New ISO ESG Implementation Principles provide int’l guidance to streamline ESG practices
New ESG Implementation Principles launched the International Organization for Standardization (ISO) at the 29th United Nations ...
Philanthropist Gallogly grants $ 5 m to Alliance for Green Infrastructure in Africa
Philanthropist Mark Gallogly, co-founder of the Three Cairns Group, announced a $5-million grant for the Alliance for Green Infrastructure in Africa (AGIA), according to a press release by the African Development Bank.
During a presidential dialogue on accelerating investment in green infrastructure in Africa, several other world leaders, investors, and heads of intergovernmental institutions commended the creation of the AGIA by the African Development Bank, Africa50 and the African Union Commission. Many expressed the commitment to join the $10-billion initiative, which is working with African countries and the private sector to speedily develop green and climate-resilient projects at scale.
Philippe Valahu, CEO of the UK’s Private Infrastructure Development Group, Emmanuel Moulin, director-general at the French Treasury, Sidi Tah, head of the Arab Bank for Economic Development in Africa, and Serge Ekue, president of the West African Development Bank, said they will join the Alliance.
In remarks during the presidential dialogue, Kenyan President William Ruto expressed Africa’s commitment to working together with industrialized nations to find practical solutions to develop faster and greener.
Ruto stressed “We want to be at the table where we are all looking for solutions. That is why we are in this conference. We have not come here to complain to anybody. We’ve come here because we want to look for a solution. We want to come up with a win-win.” Along with the seven other heads of state who attended the event, Ruto expressed his full support for AGIA and the African Development Bank’s initiatives to fast-track Africa’s development.
On the sidelines of the Summit for a New Global Financing Pact in Paris, African leaders, investors and development partners, including the African Development Bank Group, have highlighted their steadfast support for the Alliance for Green Infrastructure in Africa as it advances toward a first close of $500 million for green infrastructure projects in Africa.
African Development Bank President Akinwumi A. Adesina led a roundtable discussion about the Alliance, an initiative of the African Union Commission, the African Development Bank, and Africa50 with other partners.
“The Alliance will mobilize $100 million in grants for project preparation, $400 million in blended financing through grants, concessional resources, and commercial investments for project development,” Adesina said, explaining how the initiative will work.
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