|Policy status:||In Force|
|Policy Type:||Economic Instruments>Fiscal/financial incentives>Grants and subsidies, Economic Instruments>Fiscal/financial incentives>Loans, Economic Instruments, Economic Instruments>Fiscal/financial incentives|
|Policy Target:||Multiple RE Sources, Multiple RE Sources>All|
|Policy Sector:||Multi-sectoral Policy|
|Size of Plant Targeted:||Small and Large|
|Agency:||Lebanese Center for Energy Conservation|
|Funding:||Central Bank of Lebanon|
The "National Energy Efficiency and Renewable Energy Action" (NEEREA) is a national financing mechanism initiated by the Central Bank of Lebanon (Banque du Liban-BDL) dedicated to the financing of green energy projects in Lebanon.
On 25 November 2010, the Central Bank of Lebanon issued Circular No. 236 setting the conditions of application for “green loans” under the NEEREA financing mechanism. NEEREA is dedicated to support the financing of new and existing environmental projects, including energy efficiency (EE), renewable energy (RE), and green buildings implementations. NEEREA allows private sector entities (individuals, SME’s, or corporate bodies) to apply for subsidized loans for any type of EE and/or RE projects. Loans are available to all subsidized (industrial, agricultural, tourism, information technology, and research) and non-subsidized sectors (residential, commercial, non-profit organizations). NEEREA finances new environmentally friendly projects as well as enhancing the conditions of existing projects to become environmentally sound.
The loan has a ceiling of 20 million USD and is offered at an interest rate of 0.6% for period that should not exceed 14 years including a grace period of 6 months to 4 years. The green loans are provided through all the Lebanese commercial banks to directly reach the end user.
In addition to the loans, NEEREA also includes a grant scheme based on an agreement signed between the BDL and the European Union (EU).
Last modified: Thu, 01 Mar 2018 17:41:50 CET