Interest Cut for Energy Savers

The Ministry of Finance and Economys (MOFE) energy measures in preparation for rising oil prices include cutting interest rates for model companies using alternatives such and solar energy and wind force. More than 150 model companies are expected to benefit from this measure cutting the current 5.25 percent to 3 percent per annum in the near future with the government action. The loan rate cut is expected to encourage more and more companies to consider seeking alternative energy sources, according to MOFE officials.

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