UPDATED: Jatropha Lodges Application For Green Project Funds

The early version of this article has since been canceled below following an update from the concerned company, Finealt Engineering. We post the full update:

We would like to correct the report on the USD$ 12 million loan that you carried in your online media Pindula news under the business section on Saturday 19 October, 2019.

The correct position is that Finealt Engineering has only lodged an application for Green Project Funds through the IRENA/ADFD project facility which is still under consideration.

The International Renewable Energy Agency has reportedly availed concessionary funds to Zimbabwe’s Jatropha initiative managed by Bio-Diesel Production firm Finealt Engineering.

This was revealed by Finealt Engineering CEO who was speaking before the parliamentary committee on energy and power development who said;

In 2020, we are going to get US$12 million concessionary funds for jatropha production. Government has already given us the guarantee letter from IRENA and it will come at an interest rate of one percent over a period of 25years.

Jatropha is the government ‘s initiative to conceive renewable energy and has been in existence since its inception in 2006. However, the project has suffered a stillbirth since inception.

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