Eligibility Criteria
Eligibility Requirements: A Guide to Applying for Funding
We believe in promoting sustainable and innovative projects that will help reduce the impacts of climate change, and to achieve this goal, we have established a set of eligibility criteria that must be met before applying for funding. By reviewing this page, you will gain a better understanding of what we are looking for in a project and whether your initiative is a good fit for our facility.
Eligibility Criteria
Projects must be off-grid clean energy solutions such as solar mini-grids, solar homes systems, solar lanterns, fridges, pumps, driers and clean cooking products, small medium enterprise coolhubs and low carbon public transport or such other eligible projects as may be approved by the Funders
InfraCredit’s eligibility criteria for infrastructure projects
- Naira denominated
- Debt Instrument
- Acceptable Credit Profile based on InfraCredit’s internal credit assessment
- Adequate Security Package
- Debt Tenor of up to 10 years
- Satisfies InfraCredit’s Environmental and Social Safeguards Standards
- Is not on InfraCredit’s Project Exclusion List
- Issuer is PENCOM Compliant
Projects should increase energy access and/or productive use of energy
Must comply with IFC Economic Sustainability and Governance Standards
Sourcing of all components must not breach human rights standards
Minimum of 150Kw installed capacity
Minimum of 1 operating mini-grid site(s)
Scalable business model
Minimum of 200 or more paying customers
Process for Accessing Funding from the Climate Finance Blending Facility
Developer Completes Preliminary Checklist and Submits Guarantee Request Letter to InfraCredit
InfraCredit Conducts Preliminary Assessment, Confirms Eligibility for Facility Support & Obtains New Business Committee Approval
InfraCredit completes KYCand Company executesMandate Letter
InfraCredit conducts credit assessment and obtains BoardCredit Committee approval
InfraCredit conducts ESG, technical, legal due diligence on the project
Facility’s Investment Committee/Adviser reviews preliminary project information and issues No-Objection
InfraCredit obtains Facility’sInvestment Approval and negotiates Financing Agreements with developer
Company satisfies CPs to closing
Financial Close (Co-financing)
Developer Completes Preliminary Checklist and Submits Guarantee Request Letter to InfraCredit
InfraCredit Conducts Preliminary Assessment, Confirms Eligibility for Facility Support & Obtains New Business Committee Approval
InfraCredit completes KYCand Company executesMandate Letter
InfraCredit conducts credit assessment and obtains BoardCredit Committee approval
InfraCredit conducts ESG, technical, legal due diligence on the project
Facility’s Investment Committee/Adviser reviews preliminary project information and issues No-Objection
InfraCredit obtains Facility’sInvestment Approval and negotiates Financing Agreements with developer
Company satisfies CPs to closing
Financial Close (Co-financing)
