On December 4, Arc Finance hosted the Microfinance as an Effective Channel for Accelerating Energy Access stakeholder meeting in Delhi, India.
Microfinance institutions (MFIs) offer innovative financing mechanisms that make clean energy systems affordable, and their client networks mean they can reach millions of people. With the right support, MFIs can provide clean energy access to the millions of people in emerging economies in Asia and around the world that do not currently have access in a sustainable and commercially viable way. MFIs are ideal partners for governments, nodal agencies and policy makers that want to rapidly scale energy access.
The PACE-D TA Program works with several MFIs, energy solution providers, and other stakeholders to facilitate and scale up financing for energy access. To date, the Program has reached over 1.78 million household members across nine states in India.
The event showcased the success of the PACE-D partners in energy finance and highlight the keys to making energy access work through MFIs. The panel discussion featured three of the seven MFI partners that have received TA under the PACE-D TA Program and illustrated how investment in these MFIs can further scale their existing programs and support the Government of India’s goal of 24/7 energy for all.