The "National Energy Efficiency and Renewable Energy Action" (NEEREA) is a national financing mechanism initiated by the Central Bank of Lebanon (Banque du Liban-BDL) dedicated to the financing of green energy projects in Lebanon.
NEEREA is a national platform built and launched on 25 November 2010 based on the Circular 236 of the Central Bank of Lebanon (BDL), which, in collaboration with the European Union (EU) lists the terms and conditions to get subsidized green loans. In 2013, as per circular 313, 318, and lately 346, BDL introduced new incentives to focus on energy efficiency, renewable energy and certified green buildings.
NEEREA is a green financing mechanism that provides interest-free long-term loans to residential, commercial, non-profit and industrial users for all energy efficiency and renewable energy projects for new and existing facilities. The loan is eligible for new environmental friendly projects or for existing projects to enhance their conditions in order to become environmentally sound. The loan has a ceiling of 20 million USD and is offered at an interest rate of around 2.5% for period that should not exceed 14 years including a grace period of 6 months to 4 years. The green loans are provided through all the Lebanese commercial banks to directly reach the end user.
NEEREA also includes a grant scheme based on an agreement signed between the BDL and the European Union (EU).
In addition to the BDL financing tools, the technical support and capacity building activities are done by the Lebanese Center for Energy Conservation (LCEC) to develop the know-how among all players. These activities are part of the contract signed between the BDL and the LCEC under the name "Technical Support Consultancy Services Agreement in Energy Efficiency and Renewable Energy".