The United Nations Industrial Development (UNIDO) with the financial support of Global Environment Facility (GEF), in cooperation with Iranian Fuel Conservation Organization (IFCO) as a governmental counterpart of UNIDIO in Iran and Pasargad Bank, stablished a revolving fund for allocating low interest loan to Industrial Energy Efficiency projects.
“We hope to encourage industries to implement more energy efficiency project, with allocating low interest loans to them.” Maryam Javan shahraki, UNIDO-Iran representative said.
The coordinator of this program in Iranian Fuel Conservation Organization (IFCO), Houri Jafari explained that according to agreements, one third to half of primary capital is supplied by UNIDO and the rest is provided by the Pasargad bank. Those projects benefitted from this facility will be chosen and ranked after evaluation in a technical committee constituted of representatives from UNIDO and IFCO. The financial evaluation would be through Pasargad Bank.
In call for proposals for revolving fund, which is published on IEEIRAN.IR, it is mentioned the project with maximum 600,000 US Doller investments can apply for this facilities and based on form of the project, share of the loan would be between 75 -90 percent of the total investment cost.
For receiving this loan firstly, the execution time should be less than one year, and secondly the payback should be less than 3 years.
“Those industries which meet the initial conditions of receiving facilities and are willing to receive loans can participate in the evaluation process by completing the project evaluation form and send it to the electronic address email@example.com and firstname.lastname@example.org Up until April 19, 2018.” Nasim Shakari, the National Coordinator of the project “Industrial Energy Efficiency in 5 key Sectors in Iran” at UNIDO said.
“In this project, the Pasargad Bank will be responsible for financial management of the Fund at all levels, including contracting with the beneficiaries and repayment of the facilities” Skekari said.