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
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
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.
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.