Regulations No. 49 of 2015 - Energy Promotion and Energy Efficiency Fund Regulations.

These Regulations, consisting of 10 articles, aim to establish the Energy Promotion and Energy Efficiency Fund, aiming to provide the necessary funding to contribute to the exploitation of renewable energy sources and the rationalization of energy consumption, including small projects. To this end, it may (i) prepare, implement, and develop programs and projects aimed at exploiting renewable energy sources and rationalizing energy consumption; (ii) prepare projects and submit proposals to international donor institutions and programs; (iii) work with financial institutions, donor programs, and relevant entities concerned with supporting and cooperating with local and international renewable energy and energy conservation programs and projects. Under Article 4, the Fund is subject to oversight by the Audit Bureau, and its financial procedures, including fund allocation and auditing, are determined and managed by a Committee to ensure all funds are used exclusively for approved projects. Article 5 states that the financing programs and projects implemented by the Fund include the following (i) programs and mechanisms to assist target groups in obtaining the necessary financing for renewable energy and energy conservation projects from local and international banks, institutions, and donor programs; (ii) supporting the interest rates on bank financing for projects launched by the Fund; (iii) providing financing based on the principle of revolving loans to entities implementing the Fund's programs and projects, including electricity distribution companies, microfinance institutions, and local civil society organizations; (iv) guaranteeing risks or credit in coordination with various financial institutions; (v) providing grants for projects related to its objectives, covering the costs of energy audits, feasibility studies, public awareness campaigns, and innovative new technologies in renewable energy and energy conservation; (vi) participating in the capital of new technology companies that provide innovative added value in the field of renewable energy and energy conservation. The Fund's Management Committee sets the criteria and conditions that determine the nature of projects and the eligibility of beneficiaries for support.