Benin: Results-based finance facility now open for minigrid projects

The provision of the PAYGO model will allow families unable to afford the upfront costs of solar home systems to pay for the equipment over a duration of some years at less than $0.20 a day. The EIB financing will also allow repayment of equipment purchased in US dollars in local currency.

Previously, currency fluctuations hindered provision of affordable, clean energy solutions to communities without access to foreign currency. Customers will also benefit from cheaper costs and easier repayment through use of mobile banking.