BBK, Bahrain's pioneer in retail and commercial banking, is offering a special loan facility to business owners who aim to switch partially or entirely from conventional energy sources to renewable energy sources, hence rationalizing consumption and ultimately increasing saving. This stems from the Bank's commitment to support the Kingdom's directions and programs towards enhancing energy efficiency and shifting towards using alternative energy.
The Sustainability Financing offer for corporates comes with special benefits, including faster approvals, competitive interest rates, and flexible repayment terms. This loan can be obtained by BBK corporate customers by contacting their relationship managers.
Mr. Ahmed Taqi, BBK's General Manager, Corporate Banking commented: "This solution is in line with Bahrain's efforts to protect the environment and reduce carbon emissions and pollution through increasing reliance on renewable energy sources. In addition, the financing facility reflects BBK's desire to promote sustainable development goals, with an emphasis on the seventh goal of "clean and affordable energy" and the thirteenth goal of "climate action."
"Our team has specially designed this solution to meet the requirements and aspirations of business owners in obtaining easy financing that supports their transition toward renewable and sustainable energy." He added that this initiative targets emerging, small, medium and large enterprises as well as all industrial, commercial and service activities.
Mr. Taqi explained that the facility is also provided to companies working on implementing cooling strategies, waste-to-energy conversion, sustainable green buildings, and environmentally friendly practices, especially those that contribute towards a more sustainable alternative.
"Monitoring major developments in the sustainable energy sector is a priority for BBK, including the emergence of Bahraini companies involved in solar energy projects in the fields of installation, design, engineering and maintenance, and attracting international companies to participate in projects in Bahrain related to renewable energy," added Mr. Taqi.
"By adopting a sustainable approach in all our operations, we have made it a priority at BBK to be at the forefront in supporting environmental and climate change issues at a local, regional and global level", Mr. Taqi concluded.