- IFC plans to kick off its Scaling Mini-Grid (SMG) programme.
- The subsidiary of the World Bank Group plans to mobilise $400million for the project.
The International Finance Corporation (IFC) is set to launch its Scaling Mini-Grid (SMG) programme in the Democratic Republic of Congo. Initiated by the World Bank Group, the SMG programme aims to stimulate investment in and development of renewable energy-based mini-grids in low-income countries.
With the active participation of the private sector, the IFC aims to mobilise $400 million for electrification via solar mini-grids in the DRC in the coming years. The corporation will encourage the signing of public-private partnerships (PPPs) to develop 180MWp of installed solar capacity, with electricity storage for at least 1.5 million people, including households, businesses, schools and healthcare facilities.