June 18, 2022: Condition Financial institution of Pakistan (SBP) Friday extended the validity interval of the renewable energy funding scheme and Islamic funding facility for two a long time, up to June 30, 2024.
In accordance to a circular issued by SBP’s Infrastructure, Housing and SME Finance Section, Revised SBP Funding Scheme for Renewable Energy was introduced in June 2016 to lend assistance in addressing the twin challenge of strength shortage and local climate improve through the marketing of renewable electrical power.
The central bank, later on, based on stakeholders’ feed-back, prolonged the expiry time period of the plan to June 30, 2022.
The Mudarabah-based Islamic financing facility for renewable power (IFRE) was introduced in February 2019 for the Islamic Banking Institutions (IBIs) and DFIs.
The SBP financing plan and Islamic financing facility for renewable energy have been obtainable to prospective sponsors, suppliers and suppliers in three diverse types encompassing renewable energy projects with a capacity of down below 1 megawatt and more than 1 MW and up to 50 MW.
Loans amounting from Rs 400 million to 6 billion could have been availed dependent on the group beneath the financing facility with up to 100% refinance by SBP for a time period of 10 to 12 year.
Posted on: 2022-06-18T00:53:26+05:00