Release date: 26 February 2015
Promoter – Financial Intermediary
Pamiga Association, a French not-for profit organisation that brings technical assistance to a network of 14 rural microfinance institutions in 10 sub-Saharan Africa countries.Location
Description
The project aims at providing affordable and reliable access to electricity and water in Sub-Saharan Africa countries (mainly in Benin, Burkina Faso, Cameroon, Kenya, Madagascar, Senegal, Tanzania and Togo) by financing micro-projects in rural areas of these countries. The EIB will lend to an investment vehicle whose objective is to provide stable local currency funding to selected African microfinance institutions (MFIs), for them to develop a loan portfolio dedicated to micro-projects in the solar energy, irrigation and drinking water sectors. Final beneficiaries include low-income households, micro-entrepreneurs and villages/communities. As an operation aiming to generate superior developmental impact, it qualifies for the Social Impact window of the financing envelope that was launched in early 2014 following the increase of the Investment Facility resources by EUR 500 million for the 2014-2020 period.
Objectives
See above
Comments
The project will also benefit from a three-year technical assistance programme of EUR 1.5 million to reinforce target microfinance institutions’ capacity (1) to assess the appropriateness of the technology financed for a specific client segment; (2) to comply with the EIB’s standards in terms of procurement and of environmental and social risk management; (3) and to monitor and report on the impact of their financing activities for this particular programme. In addition, other stakeholders of the supply chain, such as clients, equipment installers and/or village technicians, as appropriate, will also benefit from capacity-building and awareness-raising activities on the technologies financed.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 4 million
Total cost (Approximate amount)
EUR 28 million
Environmental aspects
Environmental and social standards to be applied to micro-projects.
Procurement
Not applicable
Status
Signed - 23/03/2016
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).