Tuesday, July 31, 2012

New Field Partner: Entrepreneurs du Monde expands access to clean cookstoves in Burkina Faso

Please join us in welcoming our newest Field Partner in Burkina Faso, Entrepreneurs du Monde (EdM).

As a nonprofit that helps low-income families start and develop small businesses in 13 countries worldwide -- including Burkina Faso -- EdM will use Kiva funding to expand distribution channels for clean metal cookstoves. Use of these stoves positively impacts health, household finances and the environment.

EdM's Save for a Stove program is designed to expand penetration of and market access to energy-efficient cookstoves, which are currently in use by only 15% of the rural population.

These gas stoves improve health, safety and productivity for all family members. Kiva will provide an invaluable source of flexible, risk-tolerant capital for EdM’s Save for a Stove program, allowing stove retailers and users to access energy-efficient cookstoves on credit. EdM will fundraise two types of loans on Kiva:

1) Loans for distribution outlets: Prospective retailers offering gas stoves and gas refills need start-up funds to open stores. The retailers repay EdM on a flexible schedule as they sell the stoves.

2) Loans for stove buyers: Cookstove buyers in remote, rural communities need funding to afford the upfront cost of the equipment. Loans are tailored for both professional buyers who make and sell street food and households. Many of these end users are women.

We are proud to partner with EdM and offer loans that will make households safer, improve livelihoods, and empower women while combating climate change.

Have questions about EdM or our other partnerships? Send us an email at blog@kiva.org.