The fund, which was launched by the United States Agency for International Development (USAID) through the Trade and Investment Facilitation (TIF) project and the Lebanon Investment Initiative (LII), will provide sources of investment to the private sector, allowing Lebanese companies to finance the installation of solar panels.
In the context, Shea said: “This initiative, which is run by USAID, is the first of its kind in Lebanon, but it is not the first US government response to the energy crisis, and it will not be the last. Since 2012, the US government, through USAID, has been providing affordable and renewable energy to homes.” and companies.”
She added, “We are confident that Lebanese companies and investors will seize this opportunity to benefit from the renewable and solar energy fund to support the economy, the continuity of companies, and protect jobs in Lebanon. Together, we can build an environmentally responsible and more productive tomorrow.”
As for the TIF project manager, Marc Rostal, he stressed, “This fund is a first step to stimulate investment in the field of clean and sustainable energy in Lebanon. We hope that this initiative will attract more investments in the field of renewable energy in the country, and thus support the recovery and growth of Lebanese companies that are suffering.” Years of closure and dismissal of employees due to this crisis.
For his part, President of Berytech Corporation Maroun N. Chammas: “The current situation calls for contemporary and alternative measures, and that’s where our role comes in. With the support of USAID, Berytech and IM Ventures are committed to creating sustainable livelihoods.”
He added, “The time has come to launch and implement the renewable and solar energy fund project, which will provide Lebanese companies with energy supplies at a lower cost, which will increase energy efficiency.”
