12/03/2021

TCX partners with REEEP

The Currency Exchange Fund (TCX), a Cardano Development group company is pleased to announce its partnership with REEEP to help support local currency financing of clean energy SMEs in developing countries.

Ruurd Brouwer, TCX’s CEO: “TCX very much welcomes REEEP’s initiative to work with us to promote sustainable local currency finance for clean energy SMEs in developing countries. We believe this is a vital building block for establishing a long-term resilient energy sector”.

‘’REEEP and TCX have a common objective’’ says Magdalena Kouneva, Director General of REEEP, “We are looking forward to joint activities with TCX to raise awareness in the sector and enable solutions.’’

We share the goal of promoting access to modern, clean energy systems and services to foster a sustainable energy market in developing countries under a local currency framework. In cooperation with other industry actors, REEEP and TCX will develop and implement facilities targeting international lenders to ensure local currency is provided to local financial institutions and/or directly to clean energy SMEs. Final beneficiaries will be projects and companies in sectors such as smart cities, cross-sector systems (including knowledge management and agri-food value chains), and energy access and rural electrification in developing countries.

Through the partnership, REEEP and TCX will cooperate with international donors, developmental financial institutions, investors and local financial institutions within their networks.

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