Funds will be made available to the Lebanese Central Bank and Banque du Liban under the ‘Lebanon Energy Efficiency & Renewables Global Loan.’
Objective of the investments will be to reduce consumption of conventionally generated electricity and heat leading to reduced greenhouse gas emissions and diversification of energy generation.
The French Development Agency will be a participant in the project – as a co-financer.
The funding will augment is the existing Investment Grant from the European Union alongside an additional €4m for Technical Assistance for project implementation and capacity building from the Neighbourhood Investment Facility (NIF) managed by the European Commission.
