PHNOM PENH, Nov. 3, (Khmer Times) – The French Development Agency (AFD) will finance the equipping of 25,000 rural households with solar-powered electricity, according to an AFD press release today.
The $6 million credit facility provided by AFD will enable three microfinance institutions – KREDIT, TPC and Vision Fund – to distribute loans for solar equipment to clients who do not have access to the national grid or other rural electricity providers.
A $2.5 million grant for the project will also be provided by the European Union.
Goals of the project include expanding the demand for solar power technologies, while creating awareness of solar power technologies and developing a sustainable solar energy sector.
Only 37 percent of Cambodian households have access to the national grid, according to the AFD. In 2011, The Ministry of Mines and Energy declared that all villages in Cambodia shall have access to electricity by 2020.