The first form of funding from Private Banks
We have formed the US African ESG fund for Africa – the funding is from Deutsche Bank and several other International Bank funds and Deutsche Bank officers will be on our investment committee – Kisumu in Kenya qualifies as does Zambia
and all my other Country projects in Nigeria, The Gambia, Ghana, Senegal and Nigeria.
The Prime Cabinet Secretary is working with Headway USA and agrees to a total National funding program package and then US EXIMBANK funding will then be allocated to Kisumu County. Kisumu County qualifies for US EXIMBANK funding as it falls within the National Bilateral program, coordinated with the Ministries in central Government and of course Sustainable Waste Management will fall within that program.
The Government Ministers are supporting the project process. A feasibility and engineering phase 1 worth 10 million USD, followed by phase 2 the Implementation of 80 million USD.
No Sovereign Government guarantee of repayment for the financing. However we will work with the utilities and private sector to generate internal return with “no recourse to government repayment” but we will need the Government to ensure PPA payments are made.
Main project funding of USD $90 million will come from Private Banks Interest rate of 5.5% with plants & electricity generation insured. We are proposing the cost per KWh be set at 12.5 Kenyan Shillings or $0.10 USD this will be negotiated.
ZERO Waste ZERO Landfill – land released for Development & Revenue for County.
In terms of economic inputs by the County (and subsequent customer for the electricity) – A focused Feasibility study should find that an injection of payment from the budget for the electricity will be needed only in the early years, after which the energy boost to the local industries and living standard should raise the floor on County revenues, such that the annual cost is easily afforded so the cost of any Power Purchase Agreement (PPA) become much less of a burden on the County as growth occurs – the Circular Economy in action. If the energy payment collections for delivered energy is smart, the Kisumu County Government should have almost no budgetary outlays, and can simply pay from those new energy revenues, which in turn should attract new industries to base in Kisumu, increasing their standard corporate revenues as well as energy revenues.
Private Funding & Global Banks
ESG Private Bank funding primed for Net Zero
A unique global platform to respond to climate change by investing in low-emission and climate-resilient development.
Headway USA, a leading project management and project finance group in the United States, is pleased to state its intention to provide management and funding support, to the fullest extent possible, for the facilities and services being proposed by PSECC and SyScraft. The following are some of the indicators for this provision of funding:
Financing the Waste-to-Energy Programs
Headway is able to fund via either of two mechanisms or their combination: low-interest rate, near-concessional rate US government loans to the government of Kenya via US Eximbank and Headway’s banking partners , or fully private-sector funding via specialized ESG (Environmental, Social, Governance)-oriented funds , in particular a new ESG fund being created by Headway and several US and European financial institutions. In the case of the loan financing from the US government, this will be facilitated by Headway, together with the US Department of Commerce and the US Export-Import Bank, along with Headway’s banking partners. In the case of private funding, this will be arranged directly by Headway, along with the investment committee of the new ESG fund. In both cases, close coordination will be required with the official governmental and financial regulatory bodies in Kenya to provide assurances in terms of repatriation of funds and earnings, and, in the case of loans, repayments of the loans.
The funding is paid back from Power Purchase Agreements and the selling of new manufactured products from the recycled material and transport fuels.