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Memorandum of understanding signed to provide citizens access to solar energy loans

Memorandum of understanding signed to provide citizens access to solar energy loans

A newly installed set of solar panels on a house in Komatiyeh, Baabda district. (Credit: Mortada Rammal, special to L'Orient Today)

BEIRUT — The Housing Bank, represented by its Chairman and General Manager, Antoine Habib, on Monday signed a memorandum of understanding with the Energy Ministry to provide citizens with the opportunity to access solar energy loans, the state-sponsored National News Agency reported.

Here’s what we know:

    • “The Housing Bank intends to launch solar energy loans as of June 20, in addition to housing loans. Our cooperation comes today to support the mechanism of providing these loans and to ensure the installation of high-quality energy systems in a way that gives individuals, especially those with low and medium incomes, access to sustainable electricity at affordable prices,” Habib explained.

    • The Housing Bank has established a special electronic application to submit their requests. With a ceiling of LL1 billion, these loans will be denominated in the national currency and will constitute a contribution of 80 percent of the total price of the house. Buyers will have to secure the remaining 20 percent to be paid as a down payment.

BEIRUT — The Housing Bank, represented by its Chairman and General Manager, Antoine Habib, on Monday signed a memorandum of understanding with the Energy Ministry to provide citizens with the opportunity to access solar energy loans, the state-sponsored National News Agency reported.Here’s what we know:    • “The Housing Bank intends to launch solar energy loans as of June 20,...