In 2022, the Green-for-Access-First-Loss Facility (G4A) was awarded the Keeling Curve Prize in the category of finance by the Global Warming Mitigation Project.

With support from the IKEA Foundation, CLASP and P4G Platform, GreenMax has launched G4A—a risk mitigation fund that partners with local financial institutions in Africa to facilitate local currency lending to the energy access sector. G4A has a tiered fund structure, blending grant funds in the first loss tranche of the fund’s capital stack with private philanthropic and impact junior debt in the middle tranche, followed by senior loans from DFIs in the top tranches. G4A’s inaugural product is a physical cash deposit fund placed with local lenders to cover up to the first 20% of loss across a portfolio of energy access loans.

We have organized six pilot portfolios with partner FIs in Kenya, Malawi, Nigeria, Tanzania and Uganda. With support from the IKEA Foundation and CLASP, the first pilots will be launched in Nigeria and Uganda in 2023.