IFC project stimulates LED market for off-grid lighting

Dec. 18, 2006
A project organized by the International Finance Corporation aims to help LED companies sell lighting systems to homes and businesses that lack electrical power and rely on fuel-based lighting.
The International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, has launched a project with around $7 million in funding to bring LED-based lighting to areas of the globe that lack electrical power. The project is funded primarily by the Global Environment Facility, and developed and implemented by the IFC. Potential participants are encouraged to visit the project website at www.ifc.org/led to register their interest.

LED lighting, powered by photovoltaic systems or other power sources, could potentially have huge benefits for the developing world. At the same time this project could stimulate a very large market for the emerging LED lighting industry.

At a recent seminar to announce the project to the LED industry, IFC's Russell Sturm said that the motivation to become involved might be either humanitarian or profit-driven. "Both these factors are important for the project to be a success," he said.


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