RA Energy Access Fund

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IFC has been invited to invest in the US$30 million responsAbility Energy Access Fund (the “Fund”). The proposed open-ended debt fund shall provide working capital loans —and in later stages, longer term debt— to manufacturers and distributors of energy access products, such as solar devices and solar home systems. IFC’s expected investment horizon is up to eight years.responsAbility Investments AG shall manage the Fund and shall be responsible for all daily operations, including sourcing, administering, making investment decisions and monitoring of loans. Shell Foundation will provide a US$2 million First Loss Tranche to cover initial Fund losses. This Fund is an important step in spurring growth in the energy access product market which is currently constrained by limited access to working capital financing. This market plays an integral role in boosting shared prosperity for the 1.3 billion people around the world that do not have access to electricity and the 3.1 billion people that lack efficient cooking solutions. In the long-term, the Fund may diversify into other development-related sectors in addition to energy.