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Developing World Markets invests in 11 enterprises to fight energy poverty

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

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