• Blog
  • facebook
  • instagram
  • Youtube
  • Flickr
You are here: Home > News > Press Releases

Press Releases

TaiwanICDF work with EBRD to boosts green Finance in Lebanon

TaiwanICDF work with EBRD to boosts green Finance in Lebanon

The International Cooperation and Development Fund(TaiwanICDF) and European Bank for Reconstruction and Development(EBRD) are joining hand to provide a US$100 million loan to Bank Audi in Lebanon, of which US$ 10 million is funded from TaiwanICDF, for on-lending to private borrowers. The funds will be used for energy efficiency, resource sustainability, climate change and adaptation investment in Lebanon. This signing of the loan was held on November 8 2018 in Beirut, Lebanon, and Mr. Ismail MAE, Representative, Taipei Economic and Cultural Office in Amman, Hashemite Kingdom of Jordan was invited to witness this great milestone event.

The project is the second cooperation between two partner organizations under the Green Economy Financing Facility(GEFF). In line with the EBRD’s Green Economy Transition, the GEFF aims to create a market for climate change adaption and mitigation technology solutions, and covert green opportunities into sound investments by providing innovating lines and of finance and technical assistance to local banks, and by demonstrating the business case for investing in greener solution.

Lebanon became one of EBRD’s countries of operation in September 2017. As a country with arid/semi-arid climate, it is poor in water resources availability and vulnerable to the impacts of climate change. EBRD is offering the pilot Green Economy Financing Facility financing to the Bank Audi, a first mover in the market, in order to introduce the facility and build the capacity of financial institutions in green lending as well as building awareness of the benefits of green technologies and services.In addition, the project will also include a dedicated technical assistance package for capacity-building, project assessment and marketing, supported by the EBRD Shareholder Special Fund. It is estimated the project will lead to the energy efficiency and achieve the energy saving of up to 940,000 GJ per year. It will also result in the 120,000 ton of CO2 emissions reduction per year.

Over the past 20 more years, the TaiwanICDF has been working with the EBRD on promoting green technologies, private sector development and addressing food security issues, in order to realize Taiwan’s environmental commitments to protecting the earth in a sustainable and resilient way. The first TaiwanCDF-EBRD cooperation in GEFF was signed in 2017, successfully delivering the commitment for promoting energy efficiency and renewable investment for the residential sector in Romania.

  • Hits: 6284
  • Date:2018/11/9