Providing Upfront Capital for Basic Needs
November 18, 2016
In late October, we made an investment in Cardecho, a pilot portfolio of BIX Capital that aims to increase energy access to off-grid populations in Sub-Saharan Africa. BIX, or Base of the Pyramid Impact Exchange, is an investment initiative that focuses on basic needs of those at the economic “base of the pyramid” around the world: the world’s poorest citizens that constitute one of the largest unserved markets in the world due to social and economic barriers.
BIX Capital is a pooled investment vehicle that provides flexible debt financing to beneficiaries through impact pre-finance which helps individuals overcome market barriers that weaken their quality of life. The provision of the loans is designed to help individuals gain access to essential household appliances, like clean cooking stoves and solar lights, by providing upfront capital to more than 2 million households.
Our loan to BIX Capital comes as a part of Calvert Foundation’s Women Investing in Women Initiative (WIN-WIN) through which we invest in organizations that work specifically to provide access to clean energy for women in order to solve other social problems. Many women across the developing world struggle with their health due to risks associated with limited energy access, which in turn affects their ability to access education and economic resources. Clean energy is not just an environmental issue, but one with an socioeconomic effect as well.
Our mission at Calvert Foundation is to enable people to invest for social good. Your investments help power market development, and in turn power social development across emerging markets. Through our loan to BIX Capital, supported by Shell Foundation and Cardano Development, we are able to continue our present work in providing the essential services and products to people who need them.