HSBC Egypt launched the Green Personal Finance Initiative for its retail customers in Egypt as part of the bank’s efforts to support customers on their journey to a carbon-free future.
HSBC Green Personal Finance offers an interest rate rebate on standard personal finance products and flexible repayment periods. It is only available for the purchase of electric cars or solar panels for homes and associated installation costs.
“We all have a role to play in climate action, and HSBC mobilizes funding to support our customers ‘net-zero transitions and provides competitive pricing green funding to support our customers’ sustainability choices,” said Nesreen Hafez – Head of Wealth and Personal Banking at HSBC Egypt.
“HSBC has set out an ambitious plan to unlock financing 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 its ambitious goal of making up 42% of the country’s renewable energy. energy mix in 2035, “said Hafez.
Furthermore, HSBC has been recognized as the best bank in the Middle East for sustainable financing for three years in a row in the widely respected annual Awards for Excellence by Euromoney – the global financial news provider.
The bank is also committed to helping lead the transition to a global net-zero economy and expects to provide between $ 750 billion. USD and USD 1 trillion in sustainable financing and investment worldwide by 2030 to support its clients in their transitions.
In addition, HSBC leverages its network throughout the Middle East to identify start-ups in the region that are developing carbon-saving technologies as part of the climate innovation workflow within the bank’s global Climate Solutions Partnership.