Shell Foundation and Dutch development bank FMO have signed a Memorandum of Understanding agreeing to cooperate in the fields of access to energy in Sub-Saharan Africa and India. This will include investment in financial institutions with specific goals to increase access to finance, reduce inequality and promote green financing and agribusiness.
SF Director Sam Parker said: “This partnership with FMO is a significant step to help us deliver our common goals of achieving scaleable and sustainable impact.”
The new partnership builds on significant previous collaborations with FMO in the last 10 years that have unlocked over EUR 70 million into high-impact enterprises providing essential services in Africa and Asia.