Beirut, Lebanon, March 12, 2010
—IFC, a member of the World Bank Group, is providing training and expertise to help the Lebanese banking sector increase its capacity to finance sustainable energy and clean technology projects.
IFC, in cooperation with Banque du Liban, hosted a one-day workshop on March 12 in Beirut for bankers, project developers and members of Lebanon’s government. The workshop covered topics including how to structure sustainable energy finance loans, how to develop such loan products, what sort of risks to look out for, and opportunities for green investments.
The workshop, the first such event organized by IFC in Lebanon, was designed to raise awareness about sustainable energy finance and increase private sector investment in renewable energy projects that will help mitigate the effects of climate change.
Dr. Saad Andary, Vice Governor of Banque du Liban, said, “We hope to enhance the role of the banking sector in promoting the adoption of energy efficiency and environment friendly technology making the Lebanese businesses more sustainable."
Thomas Jacobs, IFC Senior Country Officer for Lebanon, said, "The workshop was a critical step towards helping create opportunities for financial institutions to build a sustainable energy finance portfolio that will address climate change issues and increase investment in sustainable energy projects in Lebanon and across the wider region.”
Climate change and sustainability are key areas of strategic focus for IFC. In fiscal year 2009, more than $1 billion of IFC’s global direct investments went to finance renewable energy and energy efficiency opportunities. In total, IFC has leveraged more than $6 billion in energy-related investments.
IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with IBRD
,
it is currently seeking a capital increase to strengthen its ability to create opportunity for the poor in developing countries—including by increasing sustainable finance opportunities in the Middle East and North Africa.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit
www.ifc.org
.
