The Canadian government has partnered with the International Finance Corporation ( IFC ) to launch a programme aimed at promoting renewable energy in sub - tropical Africa . The initiative involves $ 500 m ( CAD153 m ) of public money from Canada being used by the IFC to provide financial incentives to private sector organisations with the aim of encouraging them to invest in renewables . The IFC , a multinational corporation linked to the World Bank , will also use its own resources to mitigate some of the risks for investors . The programme is in line with government 's commitment to the climate change targets set by the 2015 Paris budget .
The Canadian government has partnered with the International Finance Corporation (IFC) to launch a programme aimed at promoting renewable energy in sub-Saharan Africa. The initiative involves $122m (CAD153m) of public money from Canada being used by the IFC to offer financial incentives to private sector organisations with the aim of encouraging them to invest in renewables. The IFC, a multinational corporation linked to the World Bank, will also use its own resources to mitigate some of the risks for investors. The project is in line with Canada's commitment to the climate change targets set by the 2015 Paris Agreement.