REMMP Partners

Arc Finance has established partnerships with a number of organizations that have specialized technical and local expertise to carry out the goals of REMMP in Haiti, India, Kenya and Uganda. 

REMMP Partner in Haiti


Sogexpress, a Sogebank Group subsidiary, specializes in money transfer payments and is the leading Western Union partner in Haiti, which has one of the lowest electricity access rates in the world. With only 26% of the Haitian population connected to the grid, remittances offer a new solution for financing the purchase and distribution of energy devices.  With the support of USAID and FOMIN/IDB, Arc is working with Sogexpress to both scale a remittance-based platform, which allows Haitians in the Diaspora to directly provide solar products to their families in Haiti in lieu of cash transfers, and expand cash sales of solar products using Sogexpress’ network of flagship stores across the country.

REMMP Partners in India


Bandhan Konnagar is the NBFC-MFI (Non Banking Finance Company – Micro Finance Institution) not-for-profit organization that is part of Bandhan Financial Services Ltd. (BFSL), the largest MFI in India. BFSL provides microfinance services to 6.3 million borrowers, (all women), through 2,022 branches across 22 Indian states. Arc is supporting Bandhan under REMMP to develop and launch a new multi-state, energy-focused subsidiary, providing both sales and credit for its clients.


Indian Grameen Services (IGS) is a registered section 25 not-for-profit company that serves as the action research, pilot testing and incubation arm of the BASIX Group, one of India’s largest financial and business development institutions focused on the poor. Arc has partnered with IGS to launch Vayam Renewable, which markets, sells and finances energy products for low-income consumers in rural communities, through REMMP, and trains and supports a network of village-based solar retailer-technicians.

 


Friends of Women’s World Banking-India (FWWB-I) is a registered section 25 not-for-profit apex organization that provides loan support and program development assistance to a network that currently includes 25 microfinance and community-based organizations located throughout India. Arc Finance is partnering with FWWB-I under REMMP to create and grow a revolving credit facility for clean energy. Arc is also providing technical assistance to FWWB-I’s MFI sub-partners to finance a range of energy services.

 

Milaap is a registered Section 25 not-for-profit Apex organization and online crowd-funding platform that supports the growth of non-traditional microcredit products such as energy, water, sanitation, and education loans by providing inexpensive, flexible capital to Indian MFIs through the crowdsourcing of funds. Arc Finance is partnering with Milaap under REMMP to establish a low-cost revolving credit facility for innovative energy companies and MFIs engaged in energy lending. Arc is also providing technical assistance to Milaap’s MFI sub-partners to finance a range of energy services including solar, efficient cookstoves and microgrids.

 

Simpa Networksis an energy company that markets high quality solar home systems (SHS) with a proprietary metering technology that are sold on a “progressive purchase” basis in Uttar Pradesh, India. Progressive purchase enables off-grid consumers to pay for solar service in flexible increments over time. Arc Finance was Simpa’s first investor and is currently partnering with Simpa under REMMP to scale its “progressive purchase” business model.

 

REMMP Partner in Uganda



SolarNow is a private solar distribution and service company that is delivering improved solar access to poor rural consumers in Uganda. Arc is partnering with SolarNow under REMMP to support the scaling of its franchise-based solar retail business. SolarNow offers an in-house credit facility for a range of modular solar home systems and low-voltage appliances. Under REMMP, Arc Finance provided funds to upgrade SolarNow’s Management Information System to handle its credit facility, as well as arranging a DCA loan guarantee to allow access to affordable local debt funding.

 

REMMP Sub-Partners in India

Dhosa Chandaneswar Bratyajana Samity (DCBS) is a registered microfinance institution based in West Bengal, India. Founded in 2003, DCBS’ mission is to transform the lives of the rural poor by providing effective, transparent and sustainable financial services that emphasize participatory approaches. Arc is providing DCBS with strategic advice and technical assistance to help scale its energy lending business; DCBS’ goal is to “solarize” its entire client base by the end of 2015.

 


Grameen Koota Financial Services Pvt. Ltd. (Grameen Koota) is an Indian NBFC-MFI (Non Banking Finance Company – Micro Finance Institution) organization based in Bangalore, with its services are focused on the rural poor and low-income households, particularly women. Arc is providing Grameen Koota with strategic advice and technical assistance to help develop its growing energy lending business.

 



Mahashakti Foundation (MSF) is registered as a Trust and operates an NBFC-MFI (Non Banking Finance Company – Micro Finance Institution) known as Mahashakti Inclusive Financial Services Pvt. Ltd. MSF is based in Odisha, India, and provides a range of services to “poor and downtrodden communities.” Mahashakti works toward improving health and education, expanding renewable energy and sustainable community development, and providing microinsurance and microcredit. Under REMMP, Arc is providing MSF with strategic advice and technical assistance to help scale its energy lending business.


Utkarsh Micro Finance Pvt. Ltd. (Utkarsh) is the NBFC-MFI (Non Banking Finance Company – Micro Finance Institution) arm of Samutkarsh Welfare Society, a registered 25 not-for-profit organization based in Varanasi, India, that seeks to support underprivileged and underserved segments of the population through financial and non-financial services. Arc is providing Utkarsh with strategic advice and technical assistance to help develop and scale its energy lending business.


Weaker Section Development Society (WSDS) is a registered NBFC-MFI (Non Banking Finance Company-Micro Finance Institution) that seeks to reduce rural poverty, especially among women, in the remote state of Manipur, India, through the provision of financial and non-financial related services. Arc is providing WSDS with strategic advice and technical assistance to help scale its energy lending business, in which WSDS provides small-scale credit for products including solar home lighting systems as well as financing for education costs. WSDS is also working with Arc to pilot a solar microgrid in a village outside Imphal.