FMO arranges $32.5m facility to boost access to energy in Tanzania

Region:

Middle East & Africa

Dutch development bank FMO and Symbiotics, an investment firm specialized in emerging, sustainable and inclusive finance, have announced a $32.5 million facility for ZOLA Electric to finance the growth of ZOLA's Tanzania operations over the next five years.

The FMO-arranged senior loan will consist of $5 million from the Access to Energy Fund, which catalyses the investment of $12.5 million from FMO-A and $15 million from Symbiotics. ZOLA Electric borrows the money in its local currency, the Tanzanian shilling.

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