One Step Closer To Universal Access to Energy
Total and Babyloan announced today that they are teaming up to develop the first crowd-funding platform dedicated to access to energy. The announcement coincides with the opening of the Fourth International Off-Grid Lighting Conference and Exhibition in Dubai.
The Fourth International Off-Grid Lighting Conference and Exhibition, organized by the World Bank's Lighting Global program and the Global Off-Grid Lighting Association, opened its doors in Dubai with the aim of stepping up the development of off-grid solar lighting in Africa and Asia.
In line with its commitment to extend energy access, Total is proudly sponsoring the event for the second time. We have already reached five million people thanks to our range of solar lamps, Awango by Total, designed to give isolated communities in Africa and Asia access to clean, reliable, and cost-effective energy. Now the Group is pursuing these efforts by seeking new partners that can help it overcome one of the main hurdles to access to energy: project funding.
Total announced today that it is joining forces with Babyloan, a European leader in crowdsourced funding, to develop the first platform dedicated to access to energy. The collaboration will support the creation of local microbusinesses that will be able to develop new distribution networks to reach isolated communities. The money raised through Babyloan will be redistributed directly to local microfinance institutions that provide microcredit to entrepreneurs.