HSBC Egypt offers financing options for green purchases

HSBC Egypt has debuted a green personal finance program for Egyptian customers, a press release says, helping the bank support clients working towards a goal of a zero carbon future.

The company offers an interest rate discount on standard personal finance products and flexible repayment periods.

HSBC Green Personal Finance will help with buying electric vehicles or solar panels for homes or other such things.

The release says HSBC wants to lead a transition to a “global net-zero economy” and will provide around $750 billion to $1 trillion toward sustainable financing and investments by 2030.

“We all have a role to play in climate action, and HSBC is mobilizing finance to support our customers’ transitions to net zero, providing competitively priced green finance to support the sustainability choices of our customers,” said Nesreen Hafez, Head of Wealth and Personal Banking at HSBC Egypt.

Hafez added that there was an ambitious plan to “unlock finance solutions that can support our customers in their energy transition,” adding that the finance products were intended to support a sustainable lifestyle, including the Egyptian government’s goal towards renewables making up 42% of the country’s energy mix by 2035.

HSBC also recently said it planned to go more into web3, through building a virtual stadium called The Sandbox, a blockchain-based metaverse to “engage and connect with sports, eSports and gaming enthusiasts.”