June 18, 2022: State Bank of Pakistan (SBP) Friday extended the validity interval of the renewable electrical power funding plan and Islamic funding facility for two years, up to June 30, 2024.
According to a round issued by SBP’s Infrastructure, Housing and SME Finance Division, Revised SBP Funding Plan for Renewable Vitality was introduced in June 2016 to lend help in addressing the twin obstacle of energy scarcity and local weather adjust via the advertising of renewable vitality.
The central financial institution, afterwards on, based on stakeholders’ feed-back, prolonged the expiry interval of the scheme to June 30, 2022.
The Mudarabah-centered Islamic funding facility for renewable energy (IFRE) was released in February 2019 for the Islamic Banking Institutions (IBIs) and DFIs.
The SBP financing scheme and Islamic funding facility for renewable energy were being available to prospective sponsors, distributors and suppliers in a few various groups encompassing renewable energy jobs with a potential of underneath 1 megawatt and extra than 1 MW and up to 50 MW.
Loans amounting from Rs 400 million to 6 billion could have been availed dependent on the group under the funding facility with up to 100% refinance by SBP for a period of time of 10 to 12 year.
Posted on: 2022-06-18T00:53:26+05:00