Community-based initiatives for cleaner and cheaper electricity are turning on to hometown investment trusts. Small contributions from villagers themselves are matched with internet crowdfunding and ADB’s innovative Green Finance Catalyzing Facility. Let’s turn on the lights together!
Let’s turn on the lights - the smart ADB way!
Many villages in developing countries still lack an adequate and reliable supply of electricity
Which can make for some very dark nights indeed
Governments cannot afford to help every isolated community and banks don't want to lend, but they might have enough seed money to kick-start a local energy project
ADB Institute has a smart, community-based solution to provide a bright, clean-energy future that will improve local peoples’ living standards and productivity:
Modest savings from villagers themselves, matched with domestic and overseas crowdfunding through the internet and topped up with money raised using ADB’s innovative Green Finance Catalyzing Facility can be put into a special Hometown Investment Trust to fund renewable power systems that are small-scale, cheap, clean and do not damage the environment or relocate villagers.
Power can be stored using batteries to assure a reliable and steady supply of electricity.
When the local energy project is completed villagers can use the electricity to empower their lives and introduce modern conveniences such as air-conditioned health clinics and well-equipped schools.
The villagers can sell any excess supply to the national power company or a nearby factory to earn a profit.
These innovative funds for renewable energy have already worked in Japan, Germany and even other developing countries
So let’s turn on the lights together!