AFD Agence Française de Développement
SUNREF (Sustainable Use of Natural Resources and Energy Finance) is a green finance product developed by the AFD, whose objective is to mobilize the financial sector of partner countries toward renewable energy (RE) and energy efficiency (EE) investments and investments to increase overall environmental performance.
In cooperation with the European Union, AFD is providing a SUNREF credit line combined with a grant to two local partner banks in Palestine – Bank of Palestine (BoP) and Cairo Amman Bank (CAB). The total funds of the SUNREF Palestine program amount to EUR 33 million.
A SUNREF Palestine project implementation unit (PIU) will be established at the Palestinian Energy and Environment Research Centre (PEC), vested at the Palestinian Energy and Natural Resource Authority. Econoler was contracted to serve as technical assistance provider to support the PIU in the overall management and supervision of the SUNREF Palestine program.
Overall, Econoler facilitates the successful promotion and disbursement of the SUNREF Palestine credit line by supporting the local partner banks, and Palestinian bankers will be trained to identify and assess potentially feasible sustainable energy investment projects. Moreover, Econoler experts will develop and enhance the implementation of a viable communications and marketing strategy to popularize not only the SUNREF program, but also disseminate the merits of EE/RE investments as a whole.