IFC and Nedbank CIB Partner to Support Green Buildings and Affordable Housing in South Africa
South Africa, May 26 -- To accelerate South Africa's transition to a greener, inclusive and lower-carbon economy, IFC and Nedbank Corporate and Investment Banking (CIB) have partnered to finance certified green buildings. The partnership will not only support the country's transition to a lower-carbon economy but also help bridge the country's housing deficit.Under the partnership, IFC will provide Nedbank CIB with a senior loan of $200 million to further scale lending to green buildings developers in South Africa's residential, commercial, industrial and retail property sectors. Each building will be certified through IFC's Excellence in Design for Greener Efficiencies (EDGE) or equivalent standard for energy and water efficiency and for t...
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