Climate Finance
Developing World Markets has invested in 11 enterprises to fight energy poverty.
The impact investing fund is backing 11 ventures through its $61 million Off-Grid, Renewable and Climate Action Impact, or ORCA note.
Developing World Markets de-risked the four-year, 5.85 percent note by pre-approving the loans before approaching investors.
The enterprises include off-grid energy companies d.light and Off-Grid Electric, and microfinance institutions XacBank and FINCA Nicaragua.
Developing World Markets then raised $30 million each from two faith-based pension funds, the Church Pension Fund and Wespath Benefits and Investments.
Developing World Markets says its funding will help 200,000 families install home solar systems.
Photo credit: USAID
