World Bank funds renewable energy in LebanonStaff writer ▼ | February 13, 2016
The International Finance Corporation (IFC), a World Bank arm, has announced a $7 million loan to the Lebanese Leasing Company SAL (LLC) for renewable energy projects in Lebanon.
Investment The Lebanese Leasing Company will get a loan
According to the statement, the investment is part of IFC’s strategy of supporting efforts designed to mitigate climate change and help loan-takers reduce risks and operating costs, while becoming more resilient to the impacts of climate change.
The initiative is part of IFC’s Sustainable Energy Finance Program, which aims to strengthen the capacity of banks and financial institutions to extend sustainable energy financing to the private sector.
To date, through the program, IFC has supported 125 financial partners through 135 sustainability and climate projects in 37 countries, providing $4.5 billion in financing that has helped reduce over 25 million tons of greenhouse gas emissions. ■