Regional: AfDB approves $20m investment to support Evolution Fund II

The African Development Bank on 15 December approved a $20m investment in the Evolution II private equity fund, which will invest in clean and sustainable assets across sub-Saharan Africa. The $250m fund will operate over a period of ten years, managed by South Africa-based Inspired Evolution Investment Management. Evolution II will invest both in project development and in companies operating in energy and resource efficiency.