OMDF kick starts grant programme by funding twelve solar distribution companies in Madagascar

The Off-Grid Market Development Fund (OMDF), the fund accelerating sustainable access to electricity in Madagascar, financed by the Malagasy Government with support from World Bank, today announces the signatures of grant contracts with twelve solar distribution companies under its results-based finance (RBF) facility in a major step towards the development of a thriving solar off-grid market in Madagascar.

  • OMDF’s first call for projects resulted in the signatures of twelve grant contracts for result-based finance.
  • OMDF’s partner companies aim to distribute more than 900,000 quality products by June 2024, with more than 30% distributed in regions that are especially affected by poverty.
  • These distribution objectives correspond to an estimated result-based financing of $28 million that can be disbursed.
  • OMDF has launched a second call for projects for its result-based finance facility.