| Project Detail |
The project will finance the expansion of clean cooking activity of the company Burn Manufacturing in Kenya, Tanzania and potentially other African countries.
Objectives
This operation provides access to clean cooking for households and micro-entrepreneurs by co-financing the design, production, distribution, and payment plans of IoT tech-enabled electric induction cooking systems. The operation will generate high socio-economic impact as it results in a significant improvement of indoor air quality for final beneficiaries, it reduces the time required for cooking and fuel collection, it will result in cost savings due to the much higher efficiency of electric cooking, and it will generate strong environmental and climate benefits, as it supports a transition away from polluting and unsustainably harvested biomass towards modern clean cooking.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
USD 15 million (EUR 14 million)
Total cost (Approximate amount)
USD 30 million (EUR 27 million) |
