UN Global Climate Action Award Winner: Beyond the Grid Fund for Zambia
The BGFZ approach brings together an innovative results-based financing and risk-sharing approach called Social Impact Procurement and has already connected nearly 800,000 people to clean and affordable off grid energy services in its first phase. The Beyond the Grid Fund for Africa is managed by the Nordic Environment Finance Corporation (NEFCO) as Facility Manager and implemented by Renewable Energy and Energy Efficiency Partnership (REEEP). The Fund hopes to reach at least five million beneficiaries by 2025.
On 29th September 2019, the Momentum for Change Initiative of the UNFCCC announced that the Grid Fund for Zambia is among 15 winners of this year's UN Global Climate Action Awards, which recognises highly innovative, scalable and replicable initiatives tackling climate change. The UN Global Climate Action Awards will be formally presented during an award ceremony as part of the 25th UNFCCC Conference of Parties in Santiago de Chile in December. The Fund is also the 2019 recipient of the prestigious Ashden Award for Innovative Finance.