According to the Bank’s website, SIMA Commercial & Industrial Solar Green Bond B.V (SIMA Solar Bond or the Fund) is a structured bond fund that will finance small-scale productive-use solar projects within the commercial and small industrial (C&I) sectors throughout Africa. The Fund will have a target size of US$150 million, a maturity of 10 years, and will provide both shorter-term corporate loans as well as longer-term project finance. The SIMA Solar Bond structure contains multiple tranches, including a catalytic tranche, followed by junior, senior, and super senior tranches. IFC will act as an anchor investor by investing in up to 35% of the Bond (the Project). The Project is expected to be supported by IDA20 Private Sector Window (PSW) Blended Finance Facility (BFF) and IFC-Global Energy Alliance for People and Planet (GEAPP) as described in the Blended Finance Section.
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