Saturday, May 28, 2022
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result

Solar-powered irrigation could save farmers $875m yearly – IFC

Ehime Alex by Ehime Alex
March 17, 2021
in Energy, Money
0
Solar-powered irrigation could save farmers $875m yearly - IFC
2
SHARES
33
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

The International Finance Corporation has estimated that using solar-powered pumps could save farmers up to $875m annually in diesel fuel costs as well as help reduce greenhouse gas emissions.

The IFC said this in a statement on Tuesday while announcing a partnership deal with ALEXBANK, an Egyptian private bank.

READ ALSO

Oil sector still unhealthy for Nigeria’s economy – Afrinvest MD

Amid falling price, Bitcoin proves analysts wrong

The statement read, “An estimated one million diesel-powered pumps across Egypt could potentially be replaced by solar.

Read Also:

  • NGX reverses five-week gain as index dips by 0.22%
    NGX reverses five-week gain as index dips by 0.22%
  • Dissecting Nigerians' savings culture amid socio-economic headwinds
    Dissecting Nigerians' savings culture amid socio-economic…
  • Chioke: For the love of alma mater
    Chioke: For the love of alma mater

“IFC estimates that using solar-powered pumps could save farmers up to 14 billion Egyptian pounds ($875m) annually in diesel fuel costs, helping reduce greenhouse gas emissions.”

The pact is expected to help Egyptian farmers to access finance to purchase solar irrigation systems, reduce reliance on diesel-powered generators and boost productivity and incomes, according to the statement.

IFC Country Manager for Egypt, Libya, and Yemen, Walid Labadi, said, “This new partnership with ALEXBANK, our long-term partner, will help the bank build its portfolio in climate financing and will also help boost the adoption of clean technologies in Egypt. Expanding access to finance and supporting the green economy are key focuses of our work in the country.”

Welcoming the partnership, the Managing Director and Chief Executive Officer of ALEXBANK, Dante Campioni, was quoted as saying, “We are proud to partner with IFC to provide Egyptian farmers and entrepreneurs in the agricultural sector tailored financial products, helping them to develop and expand their businesses.”

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

Tags: FarmersIFCIrrigationSolar power

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Ehime Alex

Ehime Alex

Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

Related Posts

What Soludo’s emergence as governor-elect means to South East
Energy

Oil sector still unhealthy for Nigeria’s economy – Afrinvest MD

January 17, 2022
Amid falling price, Bitcoin proves analysts wrong
Front Page

Amid falling price, Bitcoin proves analysts wrong

December 14, 2021
Soaring cooking gas price: No respite in sight for Nigerians
Energy

Soaring cooking gas price: No respite in sight for Nigerians

December 7, 2021
Why Nigeria's debt keeps increasing – Zakka
Energy

Why Nigeria can’t remove fuel subsidy – Zakka

November 11, 2021
Equatorial Guinea, African Energy Chamber meet on energy developments amid COVID-19
Energy

Nigeria wants military to help fight crude oil theft

November 8, 2021
Reps summon NNPC over alleged irregularities
Energy

Dusting NNPC’s financial books

November 5, 2021
Next Post
Nigeria imported N573.69bn petrol in Q4 2020 – NBS

Nigeria imported N573.69bn petrol in Q4 2020 – NBS


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

Banking fraud amid increasing biometrics adoption

Banking fraud amid increasing biometrics adoption

May 25, 2022
Dissecting Nigerians' savings culture amid socio-economic headwinds

Dissecting Nigerians’ savings culture amid socio-economic headwinds

May 25, 2022
Collaboration and organisational growth

Collaboration and organisational growth

May 24, 2022
Bears retain grip on Nigerian stocks

NGX reverses five-week gain as index dips by 0.22%

May 23, 2022
Newly-built Obioma school set for academic activities

Chioke: For the love of alma mater

May 22, 2022
Now that land borders are open…

Now that land borders are open…

May 20, 2022
Grant, loan and bootstrapping for SMEs

Grant, loan and bootstrapping for SMEs

May 18, 2022

TRENDING

  • Newly-built Obioma school set for academic activities

    Chioke: For the love of alma mater

    2 shares
    Share 0 Tweet 0
  • Banking fraud amid increasing biometrics adoption

    2 shares
    Share 0 Tweet 0
  • Dissecting Nigerians’ savings culture amid socio-economic headwinds

    0 shares
    Share 0 Tweet 0
  • NGX reverses five-week gain as index dips by 0.22%

    2 shares
    Share 0 Tweet 0
  • AI, tech and accounting profession

    0 shares
    Share 0 Tweet 0
Financial Street

© Financial Street 2021. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Posting....