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Canada’s Total Climate Finance Contribution:
$455,000 CAD
- 2010 to 2011: $455,000 CAD
Targeted Regions:
Funding Period: 2010 to 2011
Type of Support:
Mitigation
Project Funded through a Canadian Facility:
IFC - Canada Climate Change Program (CCCP)
Delivery Channel:
Description
The IFC-Canada Climate Change Program financed advisory services to catalyze energy efficiency and renewable energy investments through local financial intermediaries in the Middle East and North Africa (MENA) region. MENA is the second most energy intensive region globally, which undermines the competitiveness of the region’s enterprises, more so in a situation of scarce resources and growing electricity tariffs. The advisory services will build financial intermediaries’ capacity to assess, screen and appraise private sector clients seeking sustainable energy financing.
Results/Expected Outcomes
This project has been completed. Results achieved included providing tailored advisory support to 5 clients in Jordan and Lebanon, including a local bank which received a credit line supported by the program. 15 training sessions, seminars, and workshops were conducted for 383 participants with satisfactory feedback from clients. The program also developed 18 reports (assessments, surveys, manuals etc.) that facilitated the disbursement of 350 loans. In addition, the successful testing of market potential in Lebanon and Jordan led to another sustainable energy finance program in Pakistan, Egypt, Tunisia, and Morocco.
Additional Finance Mobilized:
($CAD)
$1,495,000
Estimated GHG (metric tons of CO₂) Reduction Associated with Project (per year)Disclaimer *:
13,900