A Sh100 billion ($1 billion) fund backed by the European Investment Bank (EIB) has been set up to cushion investors in renewable energy projects from unexpected losses in sub-Saharan Africa.
The EIB has teamed up with the African Trade Insurance (ATI) and German insurance firm Munich Re to create the fund that will provide insurance against occurrences such as breach of contract, currency inconvertibility, war and civil unrest that could trigger investor losses.
