Energy Access Relief Fund B.V.
$28,000,000.00 CAD
- Department
- Global Affairs Canada
- Program
- —
- Recipient country
- Congo - Kinshasa
- Fiscal year
- 2021-2022
- Agreement period
- March 28, 2022 – August 4, 2027
- Project status
- Implementation
- Reference
- CA-3-P009804001
Published purpose
The Energy Access Relief Fund (EARF) aims to help the off-grid energy sector in Africa and Asia to safeguard its progress towards greenhouse gas (GHG) emissions mitigation, reduce the economic impact of COVID-19, and rapidly recover from the current crisis by providing access to emergency relief funding. The EARF is a concessionary debt fund intended to provide renewable energy access companies with vital financial liquidity during the crisis induced by the COVID-19 pandemic, in the form of short-term loans. EARF seeks to provide much-needed financial liquidity to off-grid, renewable energy companies that may otherwise have to reduce their workforces or shut off access to energy for their customers. Clean energy access helps to create new jobs and increases incomes. Project activities include: (1) maintain the emission reductions already achieved by the off-grid energy sector; and (2) position energy access companies to extend emission reductions to other clients beyond the crisis.
In plain English AI-generated
This contribution supports the Energy Access Relief Fund, which provides emergency loans to off-grid renewable energy companies in Africa and Asia to help them survive the COVID-19 crisis, maintain emissions reductions, and continue expanding clean energy access.
Category: Foreign Aid Development Primarily funds activity outside Canada
Based on the published description. See how AI categorization works — the linked official record is authoritative.
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