to-the-point: EIB mulls EUR-25m off-grid solar support in Africa

The European Investment Bank (EIB) considers providing about EUR 25 million (USD 28m) in financing to support the installation of off-grid solar installations in Sub-Saharan Africa, the lender said on Monday.

The project will be developed by D Light Design Inc and envisages the design, assembling, distribution and installation of about 10 million photovoltaic (PV) devices in the next 2.5 years. Its total cost is estimated at EUR 54 million.

More specifically, the off-grid systems will be for households with low income living in rural areas and micro and small or medium-sized enterprises in Ethiopia, Kenya, Nigeria, Tanzania and Uganda, the EIB said.

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