HSBC Egypt Introduces Green Personal Finance
HSBC Holdings plc
HSBC Egypt established the Green Personal Finance Initiative for its retail customers in Egypt. It is part of its efforts to support clients on their journeys to a net-zero carbon future.
HSBC Green Personal Financing provides a rate reduction on standard personal finance products and flexible repayment terms. It is only available for the purchase of electric vehicles or solar panels for houses, as well as the associated installation costs.
Nesreen Hafez, Head of Wealth and Personal Banking at HSBC Egypt, said:
"We all have a role to play in climate action, and HSBC is mobilising finance to support our customers’ transitions to net-zero, providing competitively priced green finance to support the sustainability choices of our customers."
Hafez added, "HSBC has set out an ambitious plan to unlock finance solutions that can support our customers in their energy transition. Our green finance products are designed to support the efforts of our customers to build a more sustainable lifestyle, and the launch of HSBC Green Personal Finance supports the Egyptian government’s 2030 Vision and its ambitious goal for renewables to make up 42% of the country’s energy mix by 2035."
Furthermore, HSBC has been named the Best Bank in the Middle East for Sustainable Finance for the third year in a row by Euromoney, the worldwide financial news provider, in its internationally renowned annual Awards for Excellence.
The bank is also dedicated to assisting in the transition to a global net-zero economy and expects to provide between $750 billion and $1 trillion in sustainable financing and investment globally by 2030 to assist its clients in their transitions.
Furthermore, as part of the bank's global Climate Solutions Partnership, HSBC is tapping its network throughout the Middle East to find start-up firms in the region developing carbon-cutting solutions.
Source: Daily News Egypt
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