As stated on the project disclosure page, FMO will provide funding to SIMA C&I to be used for debt funding to SME energy services and construction companies in Sub-Saharan Africa's commercial and Industrial PV sector. It will offer a combination of short (developer) and long-term (project/asset) financing. The Fund's ultimate goal is to promote the reduction of GHG emissions as well as to support the growth of SME energy companies.
Providing energy access to the C&I sector is a key part in the promotion of sustainable operations through using renewable energy. Debt financing for small to medium scale energy companies and projects in Africa is considered particularly scarce. The Fund intends to have substantial impact by targeting an underserved market and would provide a mix of structured debt solutions to help support swift deployment of renewable projects. FMO's role as investor in the first closing for the Fund will contribute to catalyzing investors and the Fund reaching its target size and deployment timeline.
As stated by the FMO, SIMA Commercial & Industrial Solar Green Bond B.V. (“SIMA C&I”) is a newly created fund (USD 150 million target size) that will be providing funding to the SME C&I solar company and developer sector in Sub-Saharan Africa. The fund is managed by SIMA LLC.
Financial Intermediary - SIMA LLC:
ACCESS TO INFORMATION
As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: email@example.com
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism