The financing provided aims to continue the growth in Guatemala by operating in new regions of the country. It is dedicated to investments for the procurement of new equipment, the sine qua none condition for the acquisition of new clients and to cover part of the costs for installation and maintenance operations. By supporting the company at this early stage of development, Proparco is also seeking to create a catalyst effect on a future capital increase, which will aim to finance the expansion into neighboring countries. Proparco’s financial support will assist Kingo in training its employees and securing its client data.
PROPARCO will also assist Kingo in the search for new technologies and solutions to meet the specific challenges of its activity and its clients’ needs. Finally, PROPARCO will help it increase its reputation and its network of influence by supporting its participation in the X Prize program.
This operation is fully in line with Proparco's mandate for green and inclusive growth, as the project offers an innovative approach to access to electricity, which is a major component for development in remote areas. Through its accessibility and substitution effect, it makes a significant contribution to improving living conditions for households, with a positive impact on the health environment, productivity and education. Finally, Proparco’s technical assistance financing will directly contribute to professionalizing Kingo and its employees.
Finally, the financing of technical assistance by PROPARCO will directly contribute to the professionalization of Kingo and its employees. The participation in the X Prize program should promote the adoption of new technical solutions and thereby contribute to increasing its position on the market after their deployment.