The Dutch development bank (FMO) signed with ZOLA Electric and Symbiotics a $32.5 million finance facility.
The FMO-arranged senior loan will consist of $5 million from the Access to Energy Fund (AEF), which catalyses the investment of $12.5 million from FMO-A and $15 million from Symbiotics. The tenor of the loan is five years. ZOLA Electric borrows the money in its local currency, the Tanzanian shilling.
Source: Press Release