Terms
- Announced
- 24 Oct 2024
- Instrument
- Debt
- Amount
- US$15.0mReported as US$15m (EIB project database: EUR 13,765,256)
- Source
- eib.org
Parties
- Project developer
- BURN Manufacturing
- Recipient type
- Technology company
- Country
- Kenya
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis European Investment Bank Lender US$15.0m Sole provider: the whole transaction
Carbon
- Pathway
- Cookstoves
Structure and cover
- Structure flag
- Plain loan
What happened
- EIB financing to BURN to expand electric and efficient cooking in Kenya and Tanzania (EIB project "East Africa Clean Cooking Expansion", total cost about US$30m).
Kumo note
- EIB debt to scale electric cooking in Kenya and Tanzania, drawn from the EU-backed ACP Impact Finance Envelope.
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