Within the framework of the 4th Finance for Development Conference held in Seville, European Commissioner for International Partnerships Josef Síkela, COFIDES Chairperson and CEO Ángela Pérez, and the Director of the Spanish Agency for International Development Cooperation (AECID), Antón Leis, announced the forthcoming EFSD+ Guarantee for the SOL Programme (Sustainable Off-grid Lighting) contributing to the EU Global Gateway strategy.
During a protocol event held in the context of the Conference, the representatives of the three institutions signed a joint declaration celebrating the future Guarantee Programme that will include a second-loss guarantee of up to EUR 75.6 million from the European Union.
The SOL Programme aims to promote access to renewable energy through off-grid and mini-grid electrification solutions in underserved areas of Sub-Saharan Africa, Latin America and the Caribbean. The EU guarantee will back subordinated debt contributions from the Development Promotion Fund (FONPRODE), managed by AECID, to finance the projects integrated under the programme.
It facilitates a second-loss guarantee mechanism covering up to 70% of investments under Project Finance structures, thus encouraging private sector involvement in projects with high social and environmental impact. The aim is to mobilize private capital toward strategic sectors for sustainable development, particularly in regions where access to financing remains limited.
Today the European Commission joins forces with our Spanish partners, bringing light to many businesses and homes in Latin America and Sub-Saharan Africa that so far remained in the dark. We once more demonstrate our commitment to put Global Gateway into practise by mobilising private finance, now for access to electricity in areas not connected to the national grids.
Jozef Síkela, European Commissioner for International Partnerships
It is truly rewarding to share a common vision with the EU Commissioner for International Partnerships. At COFIDES, we reaffirm our strong commitment to sustainable development, in which the support of the European Union and our strategic alliance with AECID are essential to advancing blended finance projects with high social and environmental impact.
COFIDES Chairperson and CEO Ángela Pérez
With our support for the SOL Programme, we at AECID reaffirm our commitment to a fairer, more inclusive, and sustainable development. This is a decisive step toward bringing clean energy to communities that have been left behind by progress—energy that powers local economies, creates jobs, and transforms lives.
Antón Leis, CEO of AECID