- International Finance Corporation (IFC), a member of the World Bank Group, is helping India’s Self Employed Women’s Association (SEWA) provide energy-efficient cook stoves and solar lanterns to more than 200,000 of its members in Rajasthan and Gujarat over the next three years.
- IFC will guarantee a loan from local banks to SEWA members by signing a memorandum of understanding with SEWA. The project is subject to regulatory approvals. It is in line with IFC’s clean-growth strategy and will also help to reduce greenhouse-gas emissions. It will also serve to demonstrate a self-sustaining business model that could also be introduced in other parts of Asia and in Africa.
- “This is one of the world’s largest clean-energy projects aimed at the $5 trillion market of consumers, distributors, and entrepreneurs that forms the base of the economic pyramid,”
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