Global Innovation Lab, ARM-Harith seal pact on climate finance
Global Innovation Lab for Climate Finance (the Lab) has picked ARM-Harith Infrastructure Investments Limited to join its 2021 cycle, themed ‘Sustainable Urbanisation for West Africa.’
The organisations will work together to convert innovations in finance into investible instruments that can be deployed into sectors and regions that need them most.
Participation in the Lab’s programme will equip ARM-Harith to proffer finance solutions to unlock the necessary large-scale investments for sustainable urbanisation in 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 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, adding that “The Lab will serve as a critical enabling platform, allowing us to further build on our commitment to resilient urbanisation, whilst developing relationships with potential investors as we employ innovative capital solutions to mobilise much-needed private investments.”
During this 7th annual competition, this class of instruments will address barriers that can unlock investment to sustainable development challenges and opportunities for a post-COVID and green economic recovery, across themes including sustainable energy access, sustainable cities, and food systems streams.