Kafalat iSME invests $600,000 in Falafel Games. Amount forms part of a $2.6 million equity funding

Kafalat iSME Programme has contributed $600,000 of equity into Falafel Games, a developer of game applications.

The investment is part of a $2.6 million equity funding recently raised by Falafel Games to finance the creation of new games and its planned market expansion. Middle East Venture Partners (MEVP) has provided two million dollars.

iSME, which plans to exit this investment within five years, co-invests alongside institutional investors in innovative companies, said Bassel A...

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Green loans subject to new changes. Semi-annual follow-up reports among new requirements

A new set of technical eligibility criteria for National Energy Efficiency and Renewable Energy Action (NEEREA) loans has been announced.

The criteria were finalized by the Lebanese Center for Energy Conservation (LCEC) based on a request from the Central Bank (BDL).

Mazen Halawi, Deputy Director of the financing unit at BDL said: "Real estate development is one the main reasons behind changing the criteria."

Property developers are one of the biggest applicants of NEEREA...

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Green for Growth fund to start local operations. Fund can directly finance projects or partner with financial institutions

Green for Growth, an international fund for renewable energy and energy efficiency projects operating in Southeast Europe, European Eastern Neighborhood Region, and in the Middle East and North Africa, will start operations in the local market, according to Lachlan Cameron, Green for Growth's Senior Officer in Energy Finance.

The fund's budget for the three regions has reached $370 million this year. The eligibility criteria for applying for financing from Green for Growth (GGF) are havi...

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Renewable energy to get financing support. EU, EIB, AFD to provide funds and technical assistance

The Central Bank (BDL) will launch early next year an €80 million credit line for renewable energy and energy efficiency projects.

The credit line is funded by the European Investment Bank (EIB) and Agence Française de Développement (AFD).

The European Union (EU) will also offer technical assistance through a team of international and national experts to support BDL and private banks to prepare the financing scheme.

Although the received funds are in euro, t...

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Royal Forex to upgrade to a financial company. Change enables it to tap into micro lending and investment funds

Royal Forex Trading has changed its name to Royal Financials as part of a move to upgrade its license from a financial brokerage firm into a financial company.

This change will enable the company to tap into the micro-loan industry and to add new financial products like investment funds, said CEO Rayan El Annan.

Royal Financials, which currently operates an electronic trading platform (ETP), is already licensed to conduct advisory and discretionary trading as a brokerage firm.
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