HSBC Egypt has introduced green personal finance for its retail customers in Egypt, as part of the bank’s efforts to promote sustainability and support a net-zero carbon future.
Under the green personal finance, the bank provides an interest rate discount on standard personal finance products and flexible repayment periods.
HSBC Green Personal Finance will be granted for the purchase of electric vehicles or solar panels for homes and associated installation expenses.
By 2030, HSBC is forecast to provide between $750 billion and $1 trillion in sustainable financing and investment globally to support a transition to a net-zero economy.
The Head of Wealth and Personal Banking at HSBC Egypt, Nesreen Hafez, 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.”
Meanwhile, Hafez added: “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.”
