June 18, 2022: State Bank of Pakistan (SBP) Friday extended the validity time period of the renewable electrical power funding scheme and Islamic financing facility for two yrs, up to June 30, 2024.
In accordance to a circular issued by SBP’s Infrastructure, Housing and SME Finance Department, Revised SBP Funding Scheme for Renewable Electricity was introduced in June 2016 to lend support in addressing the dual challenge of vitality shortage and weather transform via the promotion of renewable power.
The central bank, later on, centered on stakeholders’ feed-back, extended the expiry time period of the scheme to June 30, 2022.
The Mudarabah-based mostly Islamic funding facility for renewable energy (IFRE) was released in February 2019 for the Islamic Banking Establishments (IBIs) and DFIs.
The SBP funding plan and Islamic funding facility for renewable vitality have been offered to possible sponsors, vendors and suppliers in 3 distinctive categories encompassing renewable energy jobs with a capacity of below 1 megawatt and a lot more than 1 MW and up to 50 MW.
Financial loans amounting from Rs 400 million to 6 billion could have been availed based on the category under the funding facility with up to 100% refinance by SBP for a time period of 10 to 12 calendar year.
Posted on: 2022-06-18T00:53:26+05:00