International Finance Corporation (IFC) a member of the World Bank Group and United Kingdom’s Department for International Development (DFID), have partnered to help in the distribution of off-grid and embedded solar systems in commercial and industrial sectors of Nigeria.
Through this partnership, IFC’s Off-Grid and Embedded Solar Market Development and Finance Program, and DFID’s Solar Nigeria Program are unveiling a new program in Nigeria for solar market development and finance. One of its major components will be to provide technical support and possibly financial instruments to local financial institutions.
She added, “It also enables production of electricity at the point of need, which eliminates transmission losses to a great extent. We are working with DFID to accelerate access to electricity for more businesses and help contribute to economic growth in the country.”