USAID in­vites ap­pli­ca­tions for fund­ing off-grid so­lar projects in Africa

Financial Nigeria Magazine - - Development -

The U.S. Agency for In­ter­na­tional Devel­op­ment (USAID) last month an­nounced a new fund­ing op­por­tu­nity de­signed to in­crease pri­vate-sec­tor in­vest­ment in the house­hold so­lar mar­ket. The fund­ing win­dow is de­signed un­der the Scal­ing Off-Grid En­ergy Grand Challenge for Devel­op­ment of the USAID.

The U.S. gov­ern­ment agency said it will award a $4 mil­lion purse to mul­ti­ple in­no­va­tive, off-grid so­lar busi­nesses work­ing in sub-Sa­ha­ran Africa. Es­ti­mated grant awards would range from $500,000 to $1.5 mil­lion.

El­i­gi­ble busi­nesses for the grants are early stage or early-growth stage

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