HSBC Egypt launches green personal finance for more sustainable options
Egypt – HSBC Bank Egypt has launched the Green Personal Finance initiative for its retail customers in Egypt as part of the bank’s efforts to support customers on their journeys to a carbon-neutral future.
HSBC Green Personal Finance offers an interest rate discount on standard personal finance products and flexible repayment periods. It is available exclusively for the purchase of electric vehicles or solar panels for homes and associated installation expenses.
“We all have a role to play in climate action, and HSBC is mobilizing funding to support our customers’ transition to net zero, providing green finance at competitive rates to support our customers’ sustainability options,” said Nisreen Hafez – Head of Wealth. and Personal Banking at HSBC Egypt.
HSBC has set out an ambitious plan to launch financial solutions that can support our customers in their energy transition. Our green finance products are designed to support our customers’ efforts to build a more sustainable lifestyle, and the launch of HSBC Green Personal Finance supports the Egyptian government’s 2030 vision and ambitious goal for renewables to make up 42% of the country’s energy mix by 2035, Hafez said.
Furthermore, HSBC has been recognized as the Middle East’s Best Bank for Sustainable Finance for three consecutive years in the prestigious annual awards for excellence on a large scale by Euromoney – the provider of global financial news.
The bank is also committed to helping lead the transition to a net-zero global economy and expects to provide between $750 billion to $1 trillion in sustainable financing and investment worldwide by 2030 to support its clients in their transitions.
In addition, HSBC is leveraging its network across the Middle East to identify startups in the region that are developing carbon-reducing technologies as part of the climate innovation workflow within the Bank’s Global Climate Solutions Partnership.
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