Energy Impact Fund
Smart Power Myanmar created the Energy Impact Fund (EIF) to provide low-cost connection financing to consumers and to promote productive uses. The EIF builds on Pact’s experience financing solar home systems (SHS) through the Ahlin Yaung ‘Light’ Fund, which helped individuals in rural communities’ purchase 12,000 SHS. The EIF provides capital at no interest to the customers who can't pay the connection fee upfront. Smart Power Myanmar works with the Village Electrification Committees to facilitate the loans and repayments and strengthens their capacity to manage loan disbursement, collection and management.
To date, the EIF has enabled hundreds of connections and increased connection rates by 35% in rural villages. The EIF has supported dozens of local enterprises such as rice hullers, welding and carpentry workshops, ice machines and other businesses that drive economic activity communities and promote opportunity.