Launch of Bamboo-managed fund in Burundi

The Republic of Burundi’s Ministry of Hydraulics, Energy and Mines (MINHEM) has launched the Solar Energy and Clean Cooking Fund (Fonds d’Energie Solaire et de Cuisson – FESEC), a component of the broader Solar Energy Project in Rural Communities initiative, also known as Soleil Nyakiriza. The World Bank is providing financial backing for this $17 million fund.

FESEC aims to deliver off-grid solar products to 65,000 households and improved stoves for efficient and clean cooking to 300,000 households. The fund, which has a fixed term until 1 March 2026, has appointed Bamboo Capital Partners as the international administrator-manager.

FESEC will grant funds to private sector companies involved in the production, distribution, and financing of certified quality off-grid solar products and tested quality improved stoves. The goal is to accelerate access to sustainable electricity and efficient, clean cooking solutions in Burundi, where access to energy is a significant challenge, particularly in rural areas.

Jean-Philippe de Schrevel, founder and managing partner of Bamboo Capital Partners, believes that FESEC will lay a solid foundation for the development of the private sector in solar power and efficient, clean cooking.

FESEC incorporates three funding windows: start-up grants for SMEs launching activities in the targeted sectors; growth grants for established businesses distributing off-grid solar products and efficient, clean cooking products; and result-based financing based on sales and installations made. The fund also aims to promote female entrepreneurship by allocating a portion of grants specifically for this purpose.