- EDFI Electrifi has invested €1.26m in Simusolar’s Tanzanian green bond.
- The funds will enable the increased rollout of solar kits to farmers and fishers.
European development campaign, the Electricity Financing Initiative, has invested around €1.26 million in a €1.5 million bond issued by domestic solar products supplier Simusolar. One of the EU’s European Development Finance Institutions (EDFI Electrifi), the Electricity Financing Initiative, has invested around €1.26 million in a convertible bond issued by Tanzanian solar products distributor Simusolar.
EDFI Electrifi says that the funds will enable an increased supply of solar pumps and lanterns to farmers and fishers in the country. EDFI adds that Simusolar would also utilise the funds to develop new products.
Other subscribers to the bond include Belgium-based Chroma Impact Investment, U.S.-based Acumen Fund, and Impact Capital.