Arab Capital Group opens green financial channels to sub-Saharan Africa, aiming at long-term investment

March 27 21:24 2020

At the “Banks and Corporates Opening Financial Institution Opportunities” seminar co-organized by Arab Capital Group’s Financial Center (CGT) and the International Finance Corporation (IFE), a member of the World Bank Group, discussed how financial institutions can more broadly address climate risks Changes and other factors are incorporated into its corporate management, loan policies, risk management framework, investment portfolio, business model, and information disclosure.

At the same time, as the lenders and investors’ expectations for the company’s “environmental, social and governance” increased, the seminar also explored different principles and feasibility plans for changing the operating model and financing strategy of enterprises.

Arafat Metehi, executive director of Arab Capital Group, said that since the announcement of Arab Capital Group in May to promote green and sustainable banking development in three phases, it is now working to establish an industry framework with the banking industry, including guiding principles. And indicators to assess banks’ “green” benchmarks. Arab Capital Group also revealed that it participates in the Green Finance Network (NGFS) of central banks and regulators, so that international perspectives can be considered when developing a local industry framework.

IFE representative Mike said that finance is an important part of the Arab Capital Group’s climate business and believes that it can effectively help countries achieve the goals of sustainable development and climate action.

The seminar decided to open a green financial channel to South Africa and start a green investment with a total investment of 100 million US dollars for 10 years, of which 30 million US dollars were funded by Arab Capital Group, and the remaining 70 million US dollars were IFE and It mobilizes third-party investment and designs in the areas of infrastructure and natural resources ($ 20 million), handicraft agriculture and services ($ 10 million), financial institutions ($ 30 million), and telecommunications media and technology ($ 10 million). In addition, Arab Capital Group will also invest 10 million US dollars in the private sector to promote the development of green finance.

According to the official website of Arab Capital Group: www.arabcapital.com shows: Arab Capital Group is seeking global financial cooperation, and intends to conduct inspections in many Asian countries in the near future, seeking more partners to make Arab Capital Group’s global green finance business rise to a New height.

Media Contact
Company Name: Arab Capital Group | Best AI
Contact Person: Media Relations
Email: Send Email
Country: United Arab Emirates
Website: www.arabcapital.com