ARM-Harith Infrastructure Investments Limited has been selected by the Global Innovation Lab for Climate Finance (the Lab) to join its 2021 cycle with the theme ‘Sustainable Urbanization for West Africa’.
Leveraging ARM Harith’s proprietary finance solutions, is one of six innovative ideas selected via a rigorous process that considered over 160 global applications, tackling investment barriers in key sectors across Africa, Asia and Latin America.
ARM-Harith’s chosen solution is a specialty blended currency fund to reduce investment barriers to infrastructure projects that cater to the rapidly growing needs of African urban regions; demonstrating ARM-Harith’s continuing commitment to sustainable infrastructure.
“We are honoured to be selected by the Lab and welcome its support of sustainable urbanization for West Africa,” says Tariye Gbadegesin, ARM Harith’s managing director/ chief investment officer, “The Lab will serve as a critical enabling platform, allowing us to further build on our commitment to resilient urbanization, whilst developing relationships with potential investors as we employ innovative capital solutions to mobilize much-needed private investments.”
During this 7th year of the Lab’s annual competition, this class of instruments will address barriers that can unlock investment to sustainable development challenges, and opportunities for a post-COVID, green economic recovery, across themes including sustainable energy access, sustainable cities, and food systems streams.
The Lab accelerates investment solutions to support the Sustainable Development Goals in emerging markets by selecting promising, early-stage ideas for sustainable investment, rapidly developing these projects into fundable, scalable investments and business models.
The initiative comprises over 60 public and private investors and institutions including the US International Development Finance Corporation, African Development Bank, Norfund, and BlackRock; whilst funded by Bloomberg Philanthropies, Germany’s Federal Ministry for the Environment, Nature Conservation & Nuclear Safety (BMU), GIZ, the Netherlands Ministry for Foreign Affairs, The Rockefeller Foundation, the Swedish International Development Cooperation Agency, and the UK Department for Business, Energy & Industrial Strategy, with Climate Policy Initiative serving as the Secretariat.
ARM-Harith and the Lab will work together to convert innovations in finance into investible financial instruments that can be deployed into sectors and regions that need them most.
Participation in the Lab’s program will equip ARM-Harith to proffer finance solutions which unlock the necessary large-scale investments for sustainable urbanization in West Africa.