UNIDO allocates low interest loan to energy efficiency projects in Iran

The United Nations Industrial Development Organization (UNIDO) has established a revolving fund for allocating a low interest loan to Industrial Energy Efficiency (IEE) projects in Iran.

This decision, announced by the UN Information Center (UNIC) on Tuesday, was made towards Inclusive and Sustainable Industrial Development Goals and regarding the agreement on cooperation for proceeding of third to sixth ‘Fiveyear National Development Programs’ in which enhancement of productivity through energy efficiency is an essential point of attention.

The establishment of this fund is implemented with the financial support of Global Environment Facility (GEF), cooperation of Iranian Fuel Conservation Organization (IFCO) as a governmental counterpart of UNIDO in Iran, and Pasargad Bank.

According to the subject, Maryam Javan Shahraki, UNIDO’S representative in Iran, emphasized the capability of the mentioned fund and said, “We are hopeful to encourage industries to implement more energy efficiency projects, by allocating low interest loans to them.”

The coordinator of this program in the Iranian Fuel Conservation Organization (IFCO), Houri Jafari, explained that according to the agreement, onethird to half of primary capital is supplied by UNIDO and the rest is provided by Pasargad Bank.