Home » Banque Du Caire launches green financing programs in Egypt

Banque Du Caire launches green financing programs in Egypt

by Madaline Dunn

Banque Du Caire has announced that it has launched green financing programs in Egypt aimed at bolstering the adoption of sustainable technologies. Its new programs apply to the purchase of electric vehicles and the installation of solar panels, it was shared. 

Indeed, with both of these technologies, upfront costs can be prohibitive. For example, some estimates suggest that those switching to solar can be faced with costs of between EGP 65k and upwards of EGP 250k.

Banque Du Caire shared that for a personal loan for solar panel installation, it offers up to EGP 1 million in financing, with a payment period of up to seven years.

Meanwhile, for EVs, the purchase loan amounts to up to EGP 6 million, with a payment period of up to eight years. 

Indeed, at present, both solar and EV adoption, while growing, is still low in the country. Regarding the latter, some estimates suggest that, as of 2023, only 3,500–4,000 electric vehicles were on the roads in Egypt. 

These new programs are aimed at accelerating change in this space and supporting the transition to a green economy in the country, the bank shared. 

Ahmed Effat, Deputy CEO, commented: “These new products offer flexible financing options at competitive prices, supporting the directives of the Egyptian state and Central Bank.”

You may also like  | About Us | Careers | Privacy & Policy

 © 2024 ESG Mena