The loan will be supplied by the EBRD and includes €1.25 million of concessional lending provided by the global Green Climate Fund.
While solar is lauded as a cheap energy resource in OECD countries, the cost of financing PV projects in developing nations has impeded progress. Development banks and the Clean Technology Fund they finance have played a key role in providing access to cheap financing for clean energy projects in many markets.
Togo, Mauritius and Guyana will all receive backing for solar projects in the latest round of funding from the Abu Dhabi Fund for Development-IRENA Project Facility.
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