The Energy Efficiency Revolving Fund (EERF) was launched in 2003 to stimulate investments in large-scale industrial projects by increasing the availability of debt financing for EE and RE projects while minimizing the borrowing costs to project developers. The fund will loan to local banks at 0% interest rate and with 7-year final maturity. In return, banks lend to EE projects' owners/developers & ESCOs at max, interest rate of 4%. IEA/IRENA Global Renewable Energy Policies and Measures Database © OECD/IEA and IRENA, [November 2020]