Revolving Fund – a unique instrument
A unique feature of the ECO was the establishment of the Revolving Fund. The fund is operated by granting loans to enterprises which, then, pay the loan back into the fund. This enables the fund to grant new loans to new enterprises, hence the name the Revolving Fund.
ECO provides access to soft loans for funding new industrial equipment serving Environmental Compliance application and energy saving. Loan amounts could reach EGP 7 million per enterprise carrying a 3.5% annual interest rate with one year grace period and a repayment period of up to five years. These loans can be obtained through the National Bank of Egypt or other participating banks.
The funding structure of the project and the value of the funding support shall be as follow:
|Investment value||Owner’s share||Loan value|
|More than 100,000 EGP up to 1,000,000 EGP.||10%||90%|
|More than 1,000,000 EGP up to 2,000,000 EGP.||20%||80%|
|More than 2,000,000 EGP up to 3,000,000 EGP.||30%||70%|
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