UBS says $100 million blended finance initiative receives new backers

ZURICH (Reuters) – British and U.S. development finance organisations have agreed to be anchor investors in a new $100 million private-public finance initiative led by UBS’ philanthropic arm and non-profit Bridges Outcomes Partnerships, UBS said on Thursday.

Initial investments in the initiative, focused on delivering Sustainable Development Goal-aligned outcomes, would support government-backed initiatives to support education in Sierra Leone and Ghana, as well as a social enterprise to re-sell and recycle plastic waste in Nigeria, UBS said in a statement.

(Reporting by Brenna Hughes Neghaiwi, Editing by Friederike Heine)