PIND Raising $75m Blended Finance Facility to Support Clean Energy, Agric Sectors

Oluchi Chibuzor

The Foundation for Partnership Initiatives in the Niger Delta (PIND) has said it is raising a $75 million blended finance facility and a $5 million technical assistance (TA) sidecar facility which focuses on providing concessional local currency debt to beneficiary companies in the clean energy, agriculture, and youth empowerment sectors. This was disclosed by the Director of Strategy and Business Development, PIND, Aline Varre, during the unveiling of PIND’s 2023 annual report recently.

He noted that the organisation was poised for a new era of greater impact, noting that PIND would continue to explore new avenues for impact, including the adoption of impact investment to build on its successes and drive further progress in the Niger Delta.

According to him, “A major initiative in this direction is the PIND Impact Investing SPV, which focuses on providing concessional local currency debt to beneficiary companies in the clean energy, agriculture, and youth empowerment sectors.” 

“PIND is raising a $75 million blended finance facility and a $5 million technical assistance (TA) sidecar facility to support these efforts.” However, the Executive Director, Tunji Idowu, said PIND’s Market Systems Development project significantly supported smallholder farmers and businesses through N13.79 billion in public and private sector investments.

According to him, “In 2023, PIND’s initiatives led to the creation of over 14,600 new jobs and significantly boosted agricultural productivity, directly benefiting over 65,000 farmers and small businesses. “The organisation’s peace-building investment had over 1,200 peace actors trained and 108 conflicts mitigated, ensuring a more stable and secure Niger Delta region.

“2023 saw us exceeding expectations and achieving several milestones as we consolidated our previous work and successes while exploring new opportunities. Together with our partners, we continued to find creative, people-centred ways to carry out our mission to facilitate peace and equitable economic growth in the Niger Delta.”