Circulation 4/12024 on Financing Renewable Energy Projects via Licensed Banks

Number: 4/12024
Date: 06 Thul Hijjah 1437 Hijri
Corresponding to 8 September 2016
Circulation to all Licensed Banks
With reference to our approval of the request of the “Fund for Encouraging Renewable Energy and Energy Saving” to include the projects targeted by the fund exclusively for individuals, houses, and small and medium companies within the program of extending medium- term advances to licensed banks in order to finance renewable energy projects, I thereby inform you of the following:
 The advance extended to individuals and houses must not exceed (3,000) Jordanian Dinars, and (250,000) for small and medium companies.  The targeted parties must submit an advance application to the banks that are engaged in agreements with the fund.  The banks on their part shall study the submitted applications and ensure that they meet the conditions of the Central Bank (the conditions of the medium- term advances program).  The banks shall collect applications that meet the program’s conditions and send them periodically every two weeks to the Central Bank under a statement duly signed by the bank and the Jordan Loan Guarantee Corporation, after they provide the funds in advance of their own money resources. This circulation is effective as of date. Governor Dr. Ziad Fariz