EBRD and EU loan for Palestine's green transformation

Energy Diary - The European Bank for Reconstruction and Development ( EBRD ) and the European Union (EU) have launched the Green Economy Financing Facility (GEFF) program in the West Bank to support sustainable development in Palestine. The program will run for the next seven years.

The Programme, launched to promote the green transformation of the Palestinian economy, is accompanied by investment grants and technical assistance funded by the EU. As one of the main funders of the programme, the EU is providing technical assistance and financial support.

A loan of 25.9 million euros will be provided

The program will provide approximately €25.9 million in senior unsecured loans. These funds will be channeled to four local financial institutions and then distributed to end-users through sub-lenders. 100% of the EBRD loans will be allocated to green projects and supported by EU-funded technical assistance.

The loans will support renewable energy investments such as small-scale solar power plants and wind energy, as well as energy efficiency projects such as building energy conservation and water management. Furthermore, waste reduction, recycling, and resource-efficient technologies will be supported, and financing will be provided to businesses that produce and supply green technologies.

A GENDER-SENSITIVE APPROACH

The program aims to accelerate the region's private sector's transition to green technologies and build a climate-resilient economy. It targets micro, small, and medium-sized enterprises (MSMEs) and households in the West Bank. It adopts a gender-sensitive approach, prioritizing businesses led by women entrepreneurs.