SBP extends validity period for renewable energy for two years
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June 18, 2022: State Bank of Pakistan (SBP) Friday extended the validity time period of the renewable electrical power financing plan and Islamic funding facility for two several years, up to June 30, 2024.
In accordance to a circular issued by SBP’s Infrastructure, Housing and SME Finance Department, Revised SBP Financing Plan for Renewable Power was released in June 2016 to lend assistance in addressing the dual challenge of energy scarcity and local weather alter by means of the marketing of renewable electricity.
The central financial institution, later on, centered on stakeholders’ feed-back, prolonged the expiry period of time of the scheme to June 30, 2022.
The Mudarabah-based Islamic funding facility for renewable vitality (IFRE) was launched in February 2019 for the Islamic Banking Establishments (IBIs) and DFIs.
The SBP funding scheme and Islamic financing facility for renewable electricity have been offered to possible sponsors, distributors and suppliers in three distinctive categories encompassing renewable electrical power assignments with a ability of below 1 megawatt and additional 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 class under the funding facility with up to 100% refinance by SBP for a time period of 10 to 12 year.
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Posted on: 2022-06-18T00:53:26+05:00
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