A new short-term loan for renewable energy electrification was launched after the crisis in Lebanon. The Bank also offers a long-term loan in Lebanese Pound to purchase or to renovate a housing unit. The Borrower must hold the Lebanese citizenship for at least 10 years. For Resident applicants: the household net monthly income must not be less than 6,000,000 LBP and should not exceed the amount of 20,000,000 LBP while for Expatriate applicants: the household net monthly income should not be less than the equivalent of 1,000 USD “Fresh” and should not exceed 2,000 USD “Fresh”. On another note, the citizen must secure the written compulsory consent of 75% of the building co-owners’ committee while the Supplier must be among the list of companies accredited by the “Lebanese Center of Energy Conservation” related to the Ministry of Energy and Water. The loan is provided between 75,000,000 LBP and 200,000,000 LBP (equivalent to 800-2200 USD). This loan didn’t succeed for several reasons such as; no trust in banks, this amount cannot afford an off-grid solar system for homes, etc.
