Published on 09/19/2021
Earlier this month, the Green Climate Fund (GCF) financially supported the Energy Access Relief Fund (EARF) with US $ 80 million. The EARF will maintain the financial solvency of clean energy companies by providing them with short-term loans. The Green Climate Fund is the largest contributor to EARF, with an investment of US $ 30 million. While the relief fund covers Africa and Asia, GCF funding is focused on sustaining the mitigation momentum in nine sub-Sharan countries that face acute challenges in tackling change. climate. In sub-Saharan Africa, 548 million people do not have access to electricity, according to the GCF. The EARF aims to provide relief capital in the form of short-term loans to around 90 energy access companies in sub-Saharan Africa and Asia, still grappling with disruption caused by COVID-19.
Social Investment Managers and Advisors (SIMA) is the manager of EARF.
Other investors in the fund are Acumen, CDC Group, FMO, IKEA Foundation, International Finance Corporation (IFC), Power Africa, Shell Foundation, Swedish International Development Cooperation Agency (SIDA), Social Investment Managers and Advisors (SIMA), Swiss Agency for Development and Cooperation (SDC), The Rockefeller Foundation, USAID, US Development Finance Corporation (DFC), UK Aid and World Bank Group.