Phnom Penh, March 31, 2021 – Nexus for Development, as a Kiva field partner, raised USD 25,000 through the crowdfunding platform for Sumba Sustainable Solutions (3S), to finance its working capital on solar home systems and Capex to increase its bamboo processing capacity.
In addition to the $25,000 Kiva loan, 3S will receive $22,000 from New Energy Nexus, an incubator and investor sponsoring renewable energy companies. Thanks to this combined investment, 3S will electrify 5,000 households in the next three years, install 50 solar-powered appliances and build a new bamboo treatment plant to meet the growing demand.