June 18, 2022: Point out Financial institution of Pakistan (SBP) Friday extended the validity period of time of the renewable power financing plan and Islamic financing facility for two many years, up to June 30, 2024.
In accordance to a round issued by SBP’s Infrastructure, Housing and SME Finance Section, Revised SBP Financing Plan for Renewable Electricity was released in June 2016 to lend assistance in addressing the twin obstacle of vitality shortage and local weather improve by way of the advertising of renewable vitality.
The central bank, afterwards on, based on stakeholders’ opinions, prolonged the expiry interval of the scheme to June 30, 2022.
The Mudarabah-primarily based Islamic funding facility for renewable vitality (IFRE) was launched in February 2019 for the Islamic Banking Establishments (IBIs) and DFIs.
The SBP financing scheme and Islamic financing facility for renewable energy were being readily available to potential sponsors, suppliers and suppliers in a few distinctive types encompassing renewable energy projects with a potential of underneath 1 megawatt and extra than 1 MW and up to 50 MW.
Financial loans amounting from Rs 400 million to 6 billion could have been availed depending on the category beneath the funding facility with up to 100% refinance by SBP for a period of 10 to 12 calendar year.
Posted on: 2022-06-18T00:53:26+05:00