EBRD and EU open €25.9m green finance line for Palestinian firms and homes
Loans through local banks will fund solar, efficiency and waste projects, with EU grants covering up to a quarter of eligible investments.
The European Bank for Reconstruction and Development and the European Union have launched a Green Economy Financing Facility for the Palestinian economy, with €25.9 million in EBRD funding channelled through local financial institutions.
Households and businesses can receive EU-funded incentives of up to 25 per cent for verified investments in renewable energy, energy and resource efficiency, green buildings, the circular economy and waste management. The programme also aims to widen access for women and women-led businesses.
The EBRD said investments made so far are expected to save 12,656 MWh of energy and avoid 3,717 tonnes of CO2 a year. The bank has approved 42 projects worth €225 million in the West Bank and Gaza since 2017.
Reported from
- EBRD22 Oct
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