In Guatemala, 1.6 million people live without access to electricity, especially in rural areas and continue to use candles, oil lamps and other diesel generators. The Guatemalan start-up Kingo Energy has set out to provide a response by developing clean and economical solutions for access to energy. It offers a kit, comprising solar panels and a box with a battery to store the electricity produced during the day. Users purchase their consumption per unit of time (hour, day, week or month), like with a mobile phone top-up.

Proparco has allocated a USD 1.7m loan convertible into shares in order to support the dissemination of clean and economical solution for energy access.

Proparco and Fundación Génesis Empresarial, the leading microfinance institution in Guatemala, are announcing their first partnership. Through a loan of USD 20 million in local currency, Proparco aims to boost the growth of this institution, which plays a crucial role in supporting small-scale farmers and micro-entrepreneurs in the country.

Proparco will subscribe $50 million of BAC Guatemala’s first senior, unsecured sustainable bond, alongside IDB and La Green (via Finance in Motion), who will subscribe US$90 million. The transaction will strengthen financial inclusion and environmental sustainability in Guatemala by expanding access to credit for green investments, MSMEs, and women-led businesses.