- EDFI ElectriFI will provide €1.5 million to support clean energy access for women.
- The investment will also support technical assistance and capacity building.
EDFI ElectriFI (Electrification Financing Initiative) is set to invest €1.5 million in Fin’Elle, a subsidiary of the financial group Cofina. The financing will help to enable female entrepreneurs to access clean energy in the Ivory Coast. La finance pour elle (Fin’Elle) is a microfinance institution that suppports female entrepreneurs in Ivory Coast.
EDFI’s investment will be accompanied by technical assistance via capacity building within the institution and other non-financial support tools. According to Lionel Dieu, senior investment officer for ElectriFI at EDFI Management Company stated, “we will work with Fin’Elle and an outside consultant to develop a green strategy for the institution.”
Fin’Elle also provides financing support for women empowerment in other sectors. For example, late last year, the impact investor signed a €5 million loan agreement with the Netherlands Development Finance Company (FMO) to support micro, small and medium enterprises (MSME) and women in the cassava value chain in Ivory Coast.