The authors of this paper assess the evolution of the green inclusive finance sector from 2011 to 2019. This encompasses products offered by a range of types of financial services providers (FSPs), including climate insurance
Tag: Green Energy
MICROCAPITAL BRIEF: FSD Africa Issues Convertible Loan of $1.2m to Africa Climate Ventures (ACV) Fund to Reduce Human Impacts on Environment
Africa Climate Ventures (ACV), a Rwanda-based venture fund that invests in “green” companies across Africa, recently borrowed EUR 1 million (USD 1.1 million) in the form of a convertible loan from Financial Sector Deepening (FSD) Africa Investments, an affiliate of the Kenya-based NGO FSD Africa. FSD Africa Investments is supporting the loan with
MICROCAPITAL BRIEF: TASC Borrows $3.5m from Spark+ Africa to Fund 90k Cookstoves, Reduce Carbon Emissions in Rural Zambia
Spark+ Africa Fund, a partnership of Switzerland-based Enabling Qapital and the Dutch NGO Stichting Modern Cooking (SMC), recently lent USD 3.5 million to The African Stove Company (TASC), which is based in Jersey, to sell 90,000 cookstoves in rural Zambia. Spark+ Africa raised the funds from the sale of “several million tons
MICROFINANCE EVENT: Climate Investment Summit; June 28, 2023; London, UK
As part of London Climate Action Week, this event is focused on investment that helps companies adapt to and mitigate climate change. Session titles include:
MICROFINANCE PAPER WRAP-UP: “Green Energy Finance and Gender Disparity: The Case of Mountain Areas in Bangladesh,” by Sakib Bin Amin et al, Published by Copenhagen Business School
The authors of this study conducted a household-level analysis to examine the relationships among electricity access, green finance and gender disparity in the Chittagong Hill Tracts (CHT) of Bangladesh. Although access to electricity can
MICROFINANCE EVENT: Sankalp West Africa Summit; June 12-13, 2023; Accra, Ghana
This event will focus on mechanisms through which entrepreneurial partnerships in regions such as South Asia, Southeast Asia and Africa, can solve global issues. The organizers expect approximately 80 speakers and 300 delegates discussing topics such as: (1) Agriculture; (2) Climate Change and Clean Energy;
MICROCAPITAL BRIEF: WeLight Madagascar Raises $20m from EDFI ElectriFI, EIB, Triodos for Off-Grid Solar Development
WeLight, which operates in Madagascar and Mali, recently raised EUR 19 million (USD 20 million) from the Electrification Financing Initiative (ElectriFI) of Belgium-based European Development Finance Institutions (EDFI), the EU’s European Investment Bank (EIB) and three funds managed by Netherlands-based Triodos Investment Management to build solar mini-grids in Madagascar. These commitments complete the fundraising phase of a EUR 28 million (USD 30 million) project to
MICROCAPITAL BRIEF: DEG Loans Husk Power $750k for Solar Microgrids in Nigeria, India
The German development finance institution Deutsche Investitions-und Entwicklungsgesellschaft (DEG) recently lent USD 750,000 to Husk Power Systems, an India-based supplier of small-scale electricity generation and distribution networks, to construct
MICROFINANCE EVENT: Sustainability Week; March 29-31, 2023; London, United Kingdom
This eighth annual Sustainability Week is intended to help businesses, policymakers, investors and NGOs achieve their sustainability goals more quickly. The event offers
MICROCAPITAL BRIEF: To Fund Biogas Digesters, Cookstoves in Kenya, Sumac Microfinance Bank Borrows $2m from Spark+ Africa
Kenya’s Sumac Microfinance Bank recently secured a three-year loan of USD 2 million from Spark+ Africa Fund, an investor in “modern energy solutions.” Sumac is to use the funds to expand its Kawi product, which funds solar panels, fuel-efficient stoves and biogas digesters. Sumac’s partners include Kenya’s Burn Manufacturing and Mexico-based
MICROCAPITAL BRIEF: UNCDF Announces Funding, Guarantees, Technical Assistance for Enterprises Reducing Environmental Impacts of Agriculture, Energy, Forestry in DRC
The UN Capital Development Fund (UNCDF) recently launched two new funding instruments to provide financial and technical assistance for enterprises that help address deforestation in Democratic Republic of Congo (DRC), where 95 percent of households rely on wood for cooking. One instrument, Investments Aimed at Quantifiably Reducing the Consumption of Wood Energy in DRC, offers technical assistance and grants valued at
MICROCAPITAL BRIEF: MSME Clients of Sudameris Bank to Benefit from $15m Bond Issued by IDB Invest in Paraguay
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, recently arranged a bond in the amount of PYG 100 billion (USD 15 million) to fund “medium- and long-term” lending in local currency by Paraguay’s Banco Sudameris to micro-, small and medium-sized enterprises. The bond is priced at 7.9 percent and was intermediated by
MICROCAPITAL BRIEF: Symbiotics Raising $17m in Green Bonds for Sun King to Finance Household Solar Technology in Africa, Asia
Symbiotics, a Switzerland-based investor focused on small businesses in low- and middle- income countries, recently listed bonds on the Luxembourg Green Exchange to raise USD 17 million for Sun King, a Kenya-based firm selling solar technology in 62 countries. Sun King plans to use the proceeds to
MICROCAPITAL BRIEF: BOA Kenya Nets IFC Guarantee for Lending to Women-led, Climate-focused SMEs; Potential Performance-based Incentives
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced a partnership with Bank of Africa (BOA) Kenya to expand its lending to women-led and climate-focused small and medium-sized enterprises (SMEs). IFC will reimburse BOA Kenya for
MICROCAPITAL BRIEF: AEB Onlending $5.7m from EBRD, EU to SMEs in Armenia, Mostly for “Green” Investments
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, recently agreed to lend EUR 5 million (USD 5.7 million) to Armeconombank (AEB), an Armenian bank. The purpose is to finance small and medium-sized enterprises (SMEs) in acquiring technology that will upgrade employees’ working conditions, boost competitiveness and increase exports – including by reaching EU standards. AEB has agreed to direct at least 70 percent of the loan proceeds to
MICROCAPITAL BRIEF: EBRD Loans $50m to QNB Alahli of Egypt to Boost Green Lending to Individuals, SMEs
Qatar National Bank (QNB) Alahli, an Egyptian member of the QNB Group, recently accepted a loan of USD 50 million from the multilateral European Bank for Reconstruction and Development (EBRD) to fund on-lending to individual borrowers as well as small and medium-sized enterprises (SMEs) performing “green, energy efficiency, water efficiency, renewable energy and resource efficiency projects.” The loan is part of
MICROCAPITAL BRIEF: Microfinance Institution Kreditimi Rural i Kosoves (KRK) Borrows $2.3m from EBRD for Green Housing Loans
Kreditimi Rural i Kosoves (KRK), a microfinance firm in Kosovo, recently accepted an unsecured loan of up to EUR 2 million (USD 2.3 million) from the UK-based European Bank for Reconstruction and Development’s (EBRD’s) Western Balkans Green Economy Financing Facility II (WB GEFF II). KRK plans to on-lend the funds for
MICROCAPITAL BRIEF: EBRD Loans $2.4m to ProCredit Bank Bosnia and Herzegovina for Energy Efficiency, Homeowners Eligible for EU Grants
The UK-based European Bank for Reconstruction and Development (EBRD) recently announced it is lending EUR 2 million (USD 2.37 million) to ProCredit Bank Bosnia and Herzegovina (PCB BiH) to on-lend for residential “investments in insulation, windows, heat pumps, solar panels and other improvements” that reduce energy usage. PCB BiH is a member of Germany’s ProCredit Holding, whose members provide