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Canada’s Total Climate Finance Contribution:
$5,000,000 CAD
- 2010 to 2011: $5,000,000 CAD
Targeted Countries:
Lebanon
Funding Period: 2010 to 2011
Type of Support:
Mitigation
Project Funded through a Canadian Facility:
IFC - Canada Climate Change Program (CCCP)
Delivery Partner(s):
Description
The IFC-Canada Climate Change Program provided support to a Lebanese leasing company for the financing of energy efficiency and renewable energy projects through its leasing operations targeting small and medium-sized enterprise (SME) clients. This is the first sustainable energy finance dedicated project in the leasing sector in Lebanon, sending a strong signal to other financial institutions in the market to follow suit in this niche segment.
Results/Expected Outcomes
The project is expected to generate a number of environmental and economic benefits related to the development of sustainable energy finance and related investments. Specifically, the project would develop sustainable energy investment across various industries in Lebanon, helping improve the competitiveness of the Lebanese economy, and improve local environment by reducing greenhouse gases and Lebanon's dependence on fossil fuels. With support from Canada, this project is expected to mobilize an additional $5 million in co-financing from public and private sources and lead to an estimated greenhouse gas emissions reduction of 24,600 metric tons of CO2 per year.*
Co-Financing/Mobilized Finance ($CAD):
$5,000,000
Estimated GHG (metric tons of CO₂) Reduction Associated with Project (per year)Disclaimer *:
24,600
-
Canada’s Total Climate Finance Contribution:
$9,000,000 CAD
- 2010 to 2011: $9,000,000 CAD
Targeted Countries:
Lebanon
Funding Period: 2010 to 2011
Type of Support:
Mitigation
Project Funded through a Canadian Facility:
IFC - Canada Climate Change Program (CCCP)
Delivery Partner(s):
Description
The IFC-Canada Climate Change Program provided support to a local bank to finance energy efficiency and renewable energy projects in Lebanon. The program funds were offered at a concessional rate to offset early market entrant costs and provide incentives to accelerate sustainable energy financing. The project expects to promote uptake of similar investments by other financial institutions in the country. This includes financing for the second installment. Program funds for this subsequent project are to be disbursed subject to the full utilization of the first project.
Results/Expected Outcomes
The project is expected to generate a number of environmental and economic benefits related to the development of sustainable energy finance and related investments. Specifically, the project would develop sustainable energy investment across various industries, helping improve the competitiveness of both the bank and the Lebanese economy, and improve the local environment by reducing greenhouse gases. With support from Canada, this project is expected to mobilize an additional $21 million in co-financing from public and private sources and lead to an estimated greenhouse gas emissions reduction of 94,900 metric tons of CO2 per year.*
Co-Financing/Mobilized Finance ($CAD):
$21,000,000
Estimated GHG (metric tons of CO₂) Reduction Associated with Project (per year)Disclaimer *:
94,900