Remittances – money sent home by migrants is more important than official aid in many countries. Gaia connects remittances to affordable renewable energy with a new business platform in Bolivia.
During the last 10 years, remittances have grown from $100 to $400 billion a year. Three out of the ten million Bolivians live abroad. Some 350 000 Bolivians living in Spain send more than 400 million USD home every year.
Through the new platform they can help their families in Bolivia to purchase a solar water heater that reduces the running costs of the household, saves limited electricity and reduces greenhouse gas emissions. It provides a safe and smart option for immigrants to support their families.
The platform is developed by Gaia and its local partners Banco FIE and Energetica and its international partners BASE Foundation and Arc Finance with the financing of Nordic Climate Facility. It combines innovative financing, locally assembled RE goods and results in a major innovative solution for sustainability.
“Today, we stroke a deal with Banco FIE, a leading Bolivian bank and Energetica, one of the most outstanding NGOs in Latin America. We formed a partnership which is going to be a game changer in making renewable energy products available to households in Bolivia”, says Pasi Rinne from Gaia.
- Pasi Rinne, Chair of the Board,Gaia Consulting Oy, tel. +41 79 472 6909, email: firstname.lastname@example.org