From Nat Amogu, Lagos…..

The Bank of industry (BOI) is collaborating with various state governments, such as Ondo, Osun, Kwara and Niger to boost small hydro power projects to serve clusters of Small and Medium Enterprises(SMEs), provide  financial support for clusters of co-operatives who ordinarily have been excluded from access to finance due to collateral constraints, investment in renewable energy projects and funding for the management and expansion of the access to renewable energy project, as well as project management support.

The Energy Manager/ Ag Project Manager, Bank of Industry/ United Nations Development Project (UNDP), Lawal  Gada, who disclosed this in Lagos, said that AtRE Project was initiated in continuation of UNDP’s support to Private Sector (MSMEs) development and UN’s commitment towards ensuring universal access to modern energy services.

According to him, BOI was chosen as the Implementing Agency (IA) for  the project because of its strategic position between the financial institutions, MSMEs and government.

The UNDP/BoI AtRE is an intervention project aimed at expanding renewable energy services for rural and peri-urban MSMEs,  facilitate investment in renewable energy options and linkages for enterprise development,  foster pro-development energy services by facilitating an expansion of renewable energy services accessible to MSMEs, support renewable energy investments by building up capacity within the financial sector as well as among users and providers of energy services, promote policies and institutional frameworks for an inclusive renewable energy market development and  train and build the capacity of project developers. Others are to train and build the capacity of financial institutions, capacity development and support for public policy formulation and development at federal and state level, develop guidelines and tools based on best practices for disseminating information to project developers, financial institutions and policy makers, economic development through empowering MSMEs, Job creation, Poverty alleviation, Financial Inclusion, Achieving the MDGs, Improving the environment and reducing rural-urban migration.

Gada hinted that the UNDP was working with Scheider Electric to replicate and commercialise the ‘Access to Energy’ programme launched in Asore Village, Ogun State with Support from BOI and

initiating collaborations with development institutions such as KfW, Adaptation funds, IFC, ADB, World Bank and other agencies to increase the level of renewable energy funding as well as working with Renewable Energy Programme of Federal Ministry of Environment to deliver energy solutions to various states in Nigeria including women through Rural Women Energy Security (RUWES) Initiatives.