The Eastern and Southern African Trade and Development Bank (TDB) on March 15 launched an off-grid facility for small and medium-sized enterprises (SMEs). Primary beneficiaries of the facility will be private firms and entities in 22 TDB member States involved in the supply, construction and operation of infrastructure projects.

“The facility is an innovative tailor-made instrument positioned to address current financing challenges faced by renewable energy and off-grid SMEs. It offers affordable financing, including working capital or capital expenditure, with longer tenors, and other non-financial incentives to unlock further financial intermediation,” TDB explains.

Applying firms must provide evidence of established operations with a minimum of three years of operating in the renewable energy sector, as well as a business plan demonstrating the viability of the business, including financial projections with financial statement forecasts, a clear path to profitability, product description and market analysis.

Read more: Engineering News