In the last decade, energy access firms have made remarkable progress in mitigating climate change and reaching people, businesses, and social institutions with low carbon energy. But, that progress is now hindered and could possibly be reversed because of COVID-19-related disruptions.
To save the gains made by the energy access sector, the Energy Access Relief Fund (EARF) was established in September 2021. EARF is a concessional fund managed by SIMA that provides subordinated, unsecured, and low-cost loans to companies that were facing liquidity challenges due to disruptions from COVID-19. The fund is providing up to 110 loans, ranging from USD $50,000 to USD $ 2.5 million.
CLASP, in partnership with SIMA and GOGLA, launched a help desk to provide support to the beneficiaries of the Energy Access Relief Fund.
The help desk provides technical assistance on seven focus areas under SIMA's Environmental Social Management Systems (ESMS) policy, including e-waste. ESMS aims to identify and mitigate environmental and social risks and provide guidance to borrowers to not only protect against these risks but as a prerequisite to achieve long-term social impact goals. Register for our workshop series: