Between 2011 and 2012, the African Development Bank (AfDB) increased by a staggering 92% its investment in clean energy in Africa, according to a new report by Bloomberg New Energy Finance. The publication looks at the clean energy transactions of 26 national and multilateral development banks from 2007 to 2012.
The financier now ranks 11th out of the list of 25 of development investors. Germany’s KfW topped the list with China Development Bank and Brazilian Development Bank coming behind. The AfDB’s investments had increased slowly but steadily from 2007 until last year, when they expanded exponentially. Total AfDB investment in 2011 was only $769 million, as compared to $1.475 billion in 2012. In total, the AfDB has dedicated $4.3 billion to clean energy since 2007.
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