Regulatory Alerts2020-07-28
Added · Updated
Guidance Note for on-lending/refinancing under Green Transformation Fund (GTF)
This circular issues a guidance note that Participatory Financial Institutions must use to avail on-lending or refinancing facilities from the Green Transformation Fund, which comprises 200 million US Dollars and 200 million Euros. The note defines eligible machinery and accessories for green transformation across categories including water efficiency, conservation, waste management, resource recycling, renewable energy, energy efficiency, heat management, air ventilation, and work environment improvements. Specific technical criteria are established, such as water consumption reduction targets of 20% by 2022 rising to 50% by 2025, and requirements for certifications like Energy Auditor’s Certificates or Energy Star Labeling. For the Euro component, refinancing is additionally available for importing industrial raw materials via buyer's credit for manufacturing enterprises.