SunRef Financing Program

The program is designed to finance and support eco-friendly projects, facilitating individuals, project owners, and companies in securing funding dedicated to energy conservation initiatives and renewable energy projects. This initiative corresponds with worldwide movements emphasizing the utilization of renewable energy to mitigate the risks linked with traditional fuels on both human health and the environment. The primary objective is to lower associated costs, thus advancing sustainability goals and principles. The grant is provided by the European Union to the Palestinian community through the French organization, Barbarko Association

Target Customers

• Small and medium-sized enterprises (SMEs)
• Large corporations
• Existing clients or new clients of the bank

Program Requirements

1. The grant amount should range between 10% to 25% of the financing value granted for these projects, based on the technical study.
2. The repayment period for the financing shall not be less than three years and shall not exceed seven years. A grace period may be granted based on the project's needs.
3. The acceptance criteria for obtaining financing are the standard credit conditions required by the bank.
4. Obtain a possessory lien for the equipment if possible.
5. Obtain insurance for the project's equipment.
6. When submitting the application, the financing applicant is required to provide the technical study obtained from the supplier. Failure to comply with the conditions outlined in the technical study may result in the complete or partial cancellation of the grant, depending on the examination results after installation.
7. Obtain a commitment letter from electricity distribution companies or municipalities after the municipality's signature has been endorsed by the Ministry of Local Government (only for projects producing electricity for sale, not for self-consumption). This is based on a sales agreement between the client and distribution companies, serving as a guarantee and repayment source after evaluating the financial viability and commitment of the financing applicant with third parties and banks.