As part of its Sustainable Energy Finance Program, the International Finance Corporation (IFC), a member of the World Bank Group, with the support of the Government of Canada, extended a $7M loan to the Lebanese Leasing Company (LLC), the leasing arm of Fransabank Group. According to Fransabank’s official press release, The IFC’s initiative is designed to “strengthen the capacity of banks and financial institutions to extend sustainable energy financing to the private sector”. $3.5M are to be disbursed from the IFC’s own account and the remaining $3.5M will be paid by the IFC-Canada Climate Change Program. The IFC already granted two other Sustainable Energy Finance (SEF) loans with a value of $10M and $3M to Fransabank and LLC respectively in May 2014, which were fully utilized according to the same statement.
IFC Sustainable Energy Finance Program
Source: Fransabank, IFC