IFC, Kobo360 launch call for sustainable refrigeration projects
The International Finance Corporation (IFC) and The African Digital Logistics Platform, Kobo360, have launched a proposal for the provision of sustainable cooling solutions in Nigeria as part of TechEmerge Temperature-Controlled Logistics programme.
The two institutions want to introduce sustainable cooling solutions in Nigeria. The purpose of the initiative is to address the challenges of food waste, support the health sector and reduce electricity consumption nationwide.
Recently, the duo launched an international call for projects for the supply of these cooling solutions in Nigeria.
IFC stated that “The equipment will have to be temperature-controlled (TCL) and climate-smart.” The call for expressions of interest is within the framework of the TechEmerge Temperature-Controlled Logistics Nigeria programme implemented by the IFC.
The programme is financed by The World Bank’s private sector in Partner with the UK Department of Trade, Energy and Industry Strategy (BEIS) and Kobo.360.
IFC Senior Director of Technology and Disruption Funds, William Sonneborn, said: “Sustainable cooling technologies represent a fast-growing business opportunity, particularly important for emerging markets. The selected entrepreneurs will deliver their solutions in Nigeria, and more broadly in Africa.”
“The TechEmerge Sustainable Cooling programme will provide market access and a pool of up to $1 million to top innovators, paired with leading Nigerian companies, to jointly pilot sustainable solutions that reduce cold chain losses, increase access to LCT-dependent products and markets, and build business partnerships,” said the IFC.
The financial institution will also work with a group of experts to support selected companies to mitigate financial and operational risks in bringing their innovations to the Nigerian market. Interested companies have until January 31st, 2021 to come forward.
The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.
It was established in 1956, as the private-sector arm of the World Bank Group, to advance economic development by investing in for-profit and commercial projects for poverty reduction and promoting development.
Kobo360 is a tech-enabled digital logistics platform that aggregates end-to-end haulage operations to help cargo owners, truck owners, and drivers, and cargo recipients to achieve an efficient supply chain framework.
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