At the One Planet Summitin Nairobi, Kenya in 2019, the French Development Agency (AFD) announced that it would increase its financing of the International Solar Alliance (ISA) solar projects to reach $ 1.5 B by 2022.
The Alliance is working closely with multilateral development banks (MDBs) and development finance institutions (DFIs) to build a roadmap for mobilizing $1,000 billion by 2030.
The International Solar Alliance’s two main courses of action which are supported by France are:
- to reduce financial risk relating to solar projects investment, in particular as part of the Sustainable Renewables Risk Mitigation Initiative (SRMI) launched in 2019 with the World Bank and the Agence Française de Développement;
- to provide training and capacity building via the Solar Technology Applications Resources Center (STAR-C).
The ISA has also developed industry-specific programmes aimed at improving service provision in a number of solar market segments (applications in agriculture, small networks, solar roofing, smart mobility, solar farms, solar cooling).