Good news for Sun King. The solar kit provider is getting $10 million to develop its activities in sub-Saharan Africa. The funds are provided by Proparco. The subsidiary of the French Development Agency (AFD) group is financing Sun King through a green bond issued by Symbiotics Investments, an emerging market access platform based in Geneva, Switzerland.
The bond was issued through the MSME Bonds platform, a Symbiotics initiative that has already enabled the issuance of 309 impact bonds for a total of $2.67 billion, including 33 sustainable bonds through the Green Bond Programme, for a total of $329 million.