Green banks provide long-term funding

2/24/2016 0:00

BAGHDAD - Hussein al-Tamimi Tgb

urged the International Union of Arab Bankers member d. Shammari endorsed the importance of being in the banking sector a greater role in maximizing funding for projects that achieve economic feasibility through the adoption of new banking tools reach this goal, including what they offer green banks that focus on clean energy that achieve sustainable development in the most prominent targets projects. Financial support and we mean green public finance institutions, banks or public alum provide low financial support cost and long-term projects and organizational energy through benefit in public funding. Al-Shammari said: the most important financial instruments used by these banks in the contents of its long-term loans and low-cost or revolving loans and insurance products funds as collateral for loans or loan loss reserves, as well as reduced cost of public investment, as well as contribute to the achievement of new financial products. public funding and pointed out that the most important characteristics of the green banks and stimulate demand through cover 100 percent of the initial costs through a combination of public and private funding, and benefit from public funds by attracting more private investments towards clean energy markets and energy efficiency and to recycle public capital in order to expand the green investment and not compromising with taxpayers' money, as well as reduce inefficiencies in the market, and expand clean energy solutions in the fastest soon as possible and maximize clean electricity gains and gains earned competency match every dollar spent by the state. Shammari continued, saying: It is necessary for the various countries that are the exception and operation of green banks, which could double the dozens of times funding sources and can also create jobs in the renewable energy sector, and that the debt be low cost any at low interest rates with a long payback period, pointing out that the conditions allow the installation of solar cells or to take energy efficiency measures in buildings that Aidf owner any money in advance. Support the UN and then Shammari pointed out that the United Nations program focused on these banks as a check benefit of all members of the community and thereby promoting the idea of financial inclusion targeting all segments of society and the reality of small and medium enterprises under the green economy between Shammari said the shift to a green economy for small projects medium, means participation in green sectors do not harm the environment, or in the development of environmental innovations and in general all activities result in green practices and improve production efficiency through rational use of natural resources in production, particularly energy and water. economic dimensions and said Shammari that the green economy is a means to achieve sustainable development, and is not a substitute for them and facilitate the integration of the four dimensions of sustainable development, a dimensional environment, social and economic, technical or administrative, noting the need to adapt the green economy with national priorities and circumstances, and the application of the principle of shared responsibilities between the relevant agencies of the state of voluntary movement towards a green economy, stressing the need to be based economy green on resource efficiency and sustainable patterns of consumption and production.