Specialist suggests new energy efficiency loan products

AMMAN —  Energy service companies and individual consumers want to save money by putting in new lighting, air conditioning, heating and ventilation systems, but often cannot afford them under current lending terms, an energy and finance specialist told a gathering this week. According to a press statement from the USAID Energy Sector Capacity Building (ESCB) Activity, Tom Dreessen presented for discussion suggestions for new energy efficiency loan products which would make it easier for banks to lend funds, and easier for customers to borrow. These could include extending loan payment periods, thus reducing monthly payment, increasing credit lines for borrowers, and reducing or eliminating the need for additional collateral. The gathering, co-sponsored by the Association of Banks of Jordan USAID's ESCB Activity, was attended by senior officials from 20 major banks. The USAID ESCB Activity aids government and private sector energy sector agencies to support adoption of renewable energy and energy efficiency.