The International Renewable Energy Agency (Irena) and the Abu Dhabi Fund for Development (ADFD) will provide 25 million dollars for the development of solar projects in Mauritius and Rwanda.
The announcement of the decision to invest in these two countries, under the Irena / ADFD Project Facility, was made on the occasion of the holding of the 08th Session of the General Assembly of the International Agency. for renewable energy last week in the United Arab Emirates.
Irena is a global platform for cooperation and information exchange in renewable energies.
Mauritiuswill receive a loan of 10 million dollars provided by the ADFD to install photovoltaic systems on the roofs of 10 000 homes.
TheRwandais going to benefit from a loan of 15 million dollars for the installation of 500 000 off-grid photovoltaic systems across its territory.
The Irena / ADFD Project Facility, the result of collaboration between the two institutions, was set up in 2013 with 350 million in concessional loans from the ADFD.
The Facility supports renewable energy projects recommended by Irena in “developing countries”.
Each project is accompanied with an amount between 05 and 15 million, covering up to 50% of total project costs the rest is usually co-financed.
The interest rates are between 1 and 2% on 20 years with a grace period of five years.
Since 2014, the ADFD reports having already funded 21 projects for 214 million dollars, attracting more than 420 million additional co-financing from governments and development funds.
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