Welcome to the LEEREFF website
The Lebanon Energy Efficiency and Renewable Energy Financing Facility (LEEREFF) – developed by European Investment Bank (EIB) and the French Development Agency (AFD) – aims to support investments in energy efficiency (EE) and renewable energies (RE) by private companies in Lebanon.
The Facility consists of three components:
- A credit line with a total amount of EUR 80 million, funded by the EIB (EUR 50 million) and AFD (EUR 30 million).
- Interest rate subsidies, provided by the Banque du Liban (BDL).
- Free Technical Assistance for project implementation funded by the European Union (EU).
The credit line will be intermediated through the Banque du Liban (BDL), the project promoter, who will make the proceeds of this loan available to selected Partner Banks for on-lending to the private sector. The Lebanese Center of Energy Conservation (LCEC), the project implementation unit (PIU), is overall responsible for LEEREFF implementation.
Investment areas covered by LEEREFF funding include:
- Renewable energy (solar, hydropower, biomass, geothermal, wind power),
- Energy efficiency in industries and existing buildings, and
- Green Buildings with Platinum or Gold certification according to LEED rating system or equivalent standards
LEEREFF covers a broad range of EE and RE investments between EUR 40,000 and EUR 15 million (total investment amount) in almost all sectors of the economy. LEEREFF funding can co-finance eligible investments up to 80% of the total investment cost, which means that the maximum loan amount funded by the Facility cannot exceed EUR 12 million or the USD equivalent amount respectively. Different criteria will be applied for Green Buildings.
LEEREFF complements the existing financing mechanism for EE and RE investments developed by the BDL. LEEREFF aims at contributing not only to energy savings and supply security of businesses but also at supporting energy conservation, carbon emission reduction and climate change mitigation.