Nairobi — Entrepreneurs involved in supply of low cost clean energy to rural areas in East Africa located away from the national grids have a new source of funding.
A $15 million special funding facility, the Renewable Energy and Adaptive Climate Change Technologies (REACT) window has been launched by the Africa Enterprise Challenge Fund (AECF) to provide grants to such entrepreneurs in the region.
Besides solving energy challenges, the new initiative aims at helping rural communities adapt to changing weather patterns and effects of climate change in the East African Community by providing grants of between $250,000 and $1.5 million to the entrepreneurs to develop solutions.The executive manager of the AECF, Andre Dellevoet, said that the new funding window marks his organisation's expansion from its core agribusiness and rural finance competitions.
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