The Central Bank launches an initiative to solve the electricity crisis

The Central Bank launches an initiative to solve the electricity crisis

THURSDAY, 07-29-2021,PM 2:39

Central Bank of IraqToday, Thursday, the Central Bank of Iraq announced the launch of an initiative to use renewable energy sources to reduce carbon emissions.

The bank stated in a statement, that “in cooperation with the Higher Committee for Lending in the Cabinet, it launched an initiative to switch to the use of renewable energy sources to reduce carbon emissions and improve the environment, with the participation of environmental experts and energy generated from renewable sources, in order to set the executive framework for financing such development projects, whether on The level of individuals or investors in the field of clean energy.

The Central Bank of Iraq, in cooperation with the concerned authorities, will support “the preparation of controls that oblige the owners of residential investment projects to rely on renewable sources in securing part of the electric energy as a condition for its inclusion in the Central Bank’s initiative to finance housing projects.”

The Bank and the Higher Committee for Lending expressed their “aspiration that 2022 will be a national year for renewable energy in Iraq.”

And the bank decided, “to start installing electricity generation systems from solar energy on a number of its buildings in Baghdad and its branches in Basra, Mosul and Erbil, to secure part of its electricity needs.”

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