Energy Access Relief Fund launches with $68 million

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The Energy Access Relief Fund, an energy debt fund backed by 16 governments, foundations, and investors has launched with commitments totaling $68 million. The fund, which is managed by SIMA (Social Investment Managers and Advisors), has been coordinated by impact investment manager Acumen and eventually aims to raise over $80 million aims to provide subordinated, low-interest debt financing to 90 or so energy access companies in Africa and Asia negatively impacted by the COVID-19 pandemic.

The organizations investing in the fund to date include CDC Group, the U.S. International Development Finance Corporation, (DFC), the Green Climate Fund, Shell Foundation, IKEA Foundation, The Rockefeller Foundation, World Bank, International Finance Corporation, Swedish International Development Cooperation Agency, Swiss Agency for Development and Cooperation, the UK Foreign, Commonwealth, and Development Office, USAID, and Power Africa.

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