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UNCDF receives shs15.5b for renewable energy access

The United Nations Development Fund (UNCDF) has received about Shs15.5b from the Government of Sweden to scale up access to off-grid renewable energy for low income earners across Uganda through the Renewable Energy Challenge Fund (RECF).

The partnership is aimed to support energy small and medium-sized enterprises (SMEs) in Uganda to innovate product and services delivery in under-served markets around the country, especially in rural areas.

“Thanks to this partnership with the embassy of Sweden, more energy SMEs in Uganda can now benefit from early stage investments and make steps in the way they serve customers at the last-mile,” said Mr. Alhaji Jallow UN Resident Coordinator a.i. during the signing ceremony at the embassy of Sweden in Kampala.

The Renewable Energy Challenge Fund (RECF) is expected to benefit at least I50,000 homesteads in Uganda by 2040 through the CleanStart programme.

Central to RECF’s approach is encouraging women and youth’s active participation in the energy value chain as customers, employees and employers.

Its activities will be directed towards encouraging energy companies and ecosystem support actors to be better understand the role of women and youth in energy value chain.

RECF will have three Funding windows to support innovation in three groups of energy solution which include; clean cooking, pico solar power and large solar power.

In Uganda, UNCDF’s CleanStart Programme is already co-investing shs6.3b in early stage business ideas related to financing distributed energy services, allowing five energy and financial service providers to keep innovation firmly on their agenda while building out their businesses for future growth.

UNCDF is a small, but catalytic agency in the UN family. It tests innovations in private and public financing, primarily in least developed countries. It is one of only two UN agencies with a capital investment mandate. Though small in size, its impact is not, because it works hand in hand with the Government and private companies to test and scale financing models that work.

UN Agencies in Uganda