The Off Grid Market Development Fund (OMDF) takes a new major step in the deployment of its financing program by disbursing first lines of credit to two distributors of solar products in Madagascar

The Off Grid Market Development Fund (OMDF), dedicated to accelerating access to energy in Madagascar and financed by the Government of Madagascar with assistance from the World Bank, today announces the disbursement of its first two loans, to the companies BAOBAB + Madagascar and HERi Madagascar which are both companies supplying Verasol certified solar energy products.

The loans granted to these two companies are intended to help them increase their stocks of certified solar products as well as strengthen their cash flow through “pay-as-you-go” consumer financing solutions (PAYG) offered to final beneficiaries.

OMDF is calling on more companies involved in the distribution of quality solar kits to apply for credit and its results-based grants.