Econoler awarded Phase II of the SUNREF Palestine green finance program
Following the success of Phase I of the SUNREF Palestine program, Econoler is proud to have been awarded Phase II of the technical assistance.
SUNREF Palestine is a green finance program of AFD Group and the EU. Launched in 2018 and finalized by the end of 2021, Phase I was set up to support local banks in stimulating a nascent market by increasing their lending to green energy projects. It also benefitted from Econoler support and is considered a success by the AFD Group with over 215 investments supported, primarily in the renewable energy field.
SUNREF II benefits from a $60 million financing package from Proparco, onlent via the Bank of Palestine and Cairo Amman Bank. It comprises two new features: an increased focus on energy efficiency, and the inclusion of an Islamic-lending offer for final beneficiaries. This second Technical Assistance contract awarded by Econoler is financed by an EU grant.
