MicroEnergy Credits announced its latest partnership with MicroCred Group, a group dedicated to building and developing microfinance banks focusing on Africa and China at the 2011 Global Microcredit Summit. The venture is co-financed and leverages MicroCred’s microfinance network and MicroEnergy Credit’s carbon platform. This partnership is part of a growing trend of microfinance institutions expanding their lending programs to include social and environmental benefits.
The partnership will be MicroEnergy Credit’s first in both Senegal and Madagascar and will expand clean energy access to MicroCred’s microfinance clients in those countries. Senegal and Madagascar both suffer from deforestation and energy poverty, creating a need for clean energy products. The partnership will allow clean energy products to go to scale at affordable costs to clients beginning in 2012.
