Fransabank to lend
$150 million for energy

Bank will issue ‘green’ bonds

Fransabank plans to launch a $150 million program to finance local projects in the renewable energy sector and that targets energy efficiency, said Adnan Kassar, the bank’s Chairman. “This is part of Fransabank’s Green Strategy,” he said.

The issuance of the first series of the program’s ‘Green Bonds’ will be announced soon and will amount to $60 million, he said.

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) will subscribe to the first tranche of this program, according to Kassar.