Bamboo has been appointed by the Government of Madagascar and the World Bank as the international fund manager for the Off-Grid Market Development Fund (‘OMDF’), a USD$40 million renewable energy access fund.
The Off-Grid Market Development Fund aims at increasing access to electricity in Madagascar via off-grid solar energy solutions, from solar lamps to entry-level Solar Home Systems (SHS). OMDF launches a Results-Based Financing (RBF) grant program with first submission window for companies until 8 December. In parallel, OMDF is providing credit solutions to distributors and financial institutions active in the off-grid solar sector.
OMDF is managed by Bamboo Capital Partners in partnership with Société Générale Madagasikara, which will host the funds and provide the financing.