Renewable energy


Stage 1 R&D


Stage 2 Demonstration


Stage 3 Deployment


Stage 4 Diffusion


Stage 5 Commercial maturity


Guarantees and insurance products/ risk mitigation instruments


Public/private VC funds


Soft loans Mezzanine debt R&D support Grants Loan facilities Public/private equity funds Incubators Credit lines Project development assistance Carbon


Of greatest interest to institutional investors Other PFMs


PFMs to engage institutional investors


Figure 11 : Public finance mechanisms across stages of technological development Source: UNEP SEFI (2009)


Insurance companies Commercial/postal banks FX/remittance


Micro finance institutions Saving & credit cooperatives


Community-based organizations Rotating saving & credit associations


Very poor Poor


Figure 12: Illustrative financing options for the poor Source: UNDP (2009)


Less poor


231


Less formal


More formal


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