First Solar-Energy focused Micro-Finance Institute established
Many Micro Finance Institutes (MFI) today finance solar energy projects. These are mostly small, solar-powered lamps, for which MFI customers receive credit financing.
In Ethiopia, possibly the first MFI in the world was founded, that is exclusively dedicated to solar energy: The Rural Solar Micro Finance Institute gives credit to people in rural regions for financing their solar home systems, as well as giving credit to solar energy start-up entrepreneurs. RSMFI is part of the StS International Network for Rural Development (www.solar-federation.org).
Managing Director of RSMFI, Muluneh Alemu Demo, has more than 30 years of experience in the area of banking and microfinance.