AFD has set up a concessional facility of EUR 30m, which aims to engage regional and local banks in financing more efficient use of energy and ensure the promotion of renewable energy in the private sector.
The TA team is supporting local banks to identify a portfolio of potential eligible projects. More than 50 projects have been identified that can benefit from technical support before being submitted to partner banks. Among these projects, a sample of mature projects has been selected by the banks to be financed. AFD gave its non-objection for the financing of a second set of projects in December 2016. In addition, the marketing strategy and capacity building activities for local banks and potential project developers are on-going (see updated news on the project website: www.sunref.org). Three rounds of coaching sessions have been successfully implemented in all partner banks. In parallel, 4 banks have decided to join the SUNREF program in order to implement the EUR 30 m Loan Facility provided by AFD.