Summary of Proposed Investment
Project Number
504944
Date SPI Disclosed
Jul 19, 2000
Country
Kenya
Industry
Infrastructure
Projected Board Date
Aug 18, 2000
Status
Completed
Sector
Other Non-Depository Credit
Department
Advisory Services
Environmental Category
C - No Impact
Project Description
The borrower plans to introduce "solar loans" through its head office, mobile banking units and, subsequently, through its branches. The project aims to enhance significantly the rate of consumer adoption of high quality solar home systems sold with consumer finance and after sales service.
This is a project financed by the IFC/GEF Photovoltaic Market Transformation Initiative (PVMTI). The Global Environment Facility (GEF) has provided $30 million in concessional funds to IFC to support investments in private sector projects to encourage market development for photovoltaics. PVMTI aims to address market barriers by making available appropriate financing and stimulating business activity, accelerating PV penetration to achieve reductions in greenhouse gases. By harnessing the innovation and discipline of the private sector in designing and implementing PV projects, IFC is helping to shift the design and financing of PV market activity to a more sustainable and replicable private sector context.
By investing PVMTI funds in the project, IFC intends to support the demonstration of a successful and replicable business model for the Kenyan PV market.
This is a project financed by the IFC/GEF Photovoltaic Market Transformation Initiative (PVMTI). The Global Environment Facility (GEF) has provided $30 million in concessional funds to IFC to support investments in private sector projects to encourage market development for photovoltaics. PVMTI aims to address market barriers by making available appropriate financing and stimulating business activity, accelerating PV penetration to achieve reductions in greenhouse gases. By harnessing the innovation and discipline of the private sector in designing and implementing PV projects, IFC is helping to shift the design and financing of PV market activity to a more sustainable and replicable private sector context.
By investing PVMTI funds in the project, IFC intends to support the demonstration of a successful and replicable business model for the Kenyan PV market.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
vwidge@ifc.org