Egypt’s Contact launches “Green Finance” to boost sustainability

By Gloria Methri

Contact Financial Holding, the Egyptian non-banking financial services company has launched its product “Green Finance” with an aim to promote sustainability.  The new product will fund projects such as solar panels, irrigation systems, greenhouses, developing greenhouses, as well as sustainable farming efforts.

Green Finance will allow consumers to pay in installments – with payment plans of up to five years, with monthly and quarterly repayment systems.

Contact hopes to launch other green products to achieve the modern developments that the country seeks, in terms of preserving the environment, protecting agricultural areas, reconstructing infertile areas, and converting them into green spaces which leads to a better future.

One of the reasons that led Contact to move towards financing green products is the development and preserving the environment and stimulating efficient use of resources and energy.

In this context, Tamer Samir, Managing Director of Contact Finance, said, “The company is striving to launch products to achieve sustainability, and this direction is not a new thing to Contact, as we have always sought to achieve all that is beneficial to the welfare to our customers, and green financing is an important and necessary step towards transforming the company’s business towards a greener future.

Said Zater, CEO of Contact Financial Holding, stressed the importance of introducing green financing in various financing sectors, and the commitment of all Contact Financial Holding entities to financing projects that provide tangible environmental and social benefits. Additionally, he assured the need to work on intensifying efforts to support financing plans aimed at building a more sustainable future.

Contact Financial Holding, which is headquarters in the first green building in downtown Cairo since 2018, has introduced several products concerned with social interest, such as financing education and financing ride-sharing company’s drivers.