PAMIGA WATER & RENEWABLE ENERGY THROUGH MICROFINANCE

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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.