1. A RENEWABLE ENERGY IMPACT FUND
September 2016

2. POWERING PROGRESS FUND
Introduction
The Powering Progress Fund (“PPF” or the “Fund”) is a collaboration between:
Dahabshil Bank International (“DBI”),
Arsenault Family Foundation (“AFF”) and
Shuraako
The Fund seeks to create positive economic impact through Sharia compliant investments in renewable energy technology used in MSME project or business activities
DBI and AFF will commit combined funds of US$750,000

3. Investment Criteria Investment criteria includes:
POWERING PROGRESS FUND
Investment Criteria
Investment criteria includes:
Applicants may be in any stage of growth from start-up to mature
For-profit enterprises
Evaluated merit worthy post due diligence
From any industry or sector that incorporates renewable energy technology into their operations

4. Impact Criteria Impact criteria:
POWERING PROGRESS FUND
Impact Criteria
Impact criteria:
Applicants will incorporate new or improve existing renewable energy applications to enhance production or services of their core operations, or to diversify their business
Applicants must create new jobs

5. Finance Terms POWERING PROGRESS FUND Product
Applicants approved for financing will be issued funds under a Sharia compliant debt finance agreement
Project Size
The Fund will consider applications for projects between $25,000 and $250,000
Tenor
Successful applicants will receive a custom financing term for up to three years (36 months)
Contribution
Applicants must contribute a minimum of 30% in Cash or in equivalent Tangible Assets of the total project size
Fees
This is an Impact Fund, therefore mark-up will be at Impact rates; to be determined upon application of successful applicants
Collateral
Successful applicants are required to pledge collateral. Pledged collateral will be at a minimum of 1.5x-2.5x (depending on the applicant) the investment capital extended

6. Contacts For more information, please contact: POWERING PROGRESS FUND
Mr. Abdikarim Gole
Country Director - Somaliland, Shuraako
Mr. Mahad Awale
Country Director, Somalia, Shuraako
Web:
Ms. Hodan Ali Hassan Head of Business Development and International Relations
Dahabshil Bank International
Web: