What is Green finance?
Green finance is a set of financial mechanisms created to support investment in green projects/products etc. in order to reduce environmental impact. It may include green loans at preferential rates to buy electric or hybrid cars, efficient appliances, or to invest in green homes, renewable energy, or retrofit an existing home.
How is it beneficial?
Ras Al Khaimah Municipality and RAKBANK signed an MoU in October 2021 to expand green financial offerings in the emirate to encourage sustainable lifestyles and business practices. The aim of this initiative is to encourage residents and businesses who are about to invest in a new building or in improvements of their existing buildings, purchasing solar systems or new electric or hybrid vehicles to take advantage of the special offers provided by RAKBANK and invest in a greener lifestyle.
Where can I apply?
Visit the RAKBANK website to read more about green loans by clicking on the icon below:
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