Financing facility for renewable energy projects

Dunya News

State Bank of Pakistan (SBP) has introduced financing facility for projects of renewable energy. According to SBP, sponsors of renewable energy projects could import and buy from local markets plant, machinery and equipment. For this purpose, the financing facility would be available from December 1, 2009 to June 30, 2010. Period of financing is ten years in which 2-year relaxation is also included. On 5-year financing, interest rate would be 12.4 percent while on 10-year financing, interest rate would be 12.5 percent.