Equity Bank launches environmental conservation initiative to enhance clean clean technologies

Equity Bank Uganda has launched an environmental conservation and climate financing initiative to facilitate clean energy generation and increase the adoption and purchase of innovative clean energy technologies.

The bank will work together with households and institutions to transition them to cleaner technologies and fuels and will provide loans from as low as Shs 100,000 to Shs 20 million for individuals and as low as Shs 1 million to Shs 100 million for institutions or organisation.

However, more funding will be made available for individuals or organizations depending on their capacity to repay.

The financing will cover clean cooking energy solutions for schools and institutions, agricultural equipment such as bio digesters, household equipment such as biogas and solar panels among others.

"With the glaring negative effects of climate change affecting the entire world, protection of the environment and sustainable use of our natural resources is key to all our interventions. We believe that the battle of environmental protection cannot be won by government alone," said Equity Bank Uganda executive director Michael Matovu Sseguya at an engagement in Kampala.

The engagement under the theme: “Unlocking Climate financing opportunities through private sector engagement,” drew players from the private sector, development organisations and the government.

Sseguya said Equity Bank Uganda is cognisant of its role in sustainable financing and will strategically provide its infrastructure and expertise to accelerate and scale programs and projects aimed at protecting the planet.

As the world stares at a climate change catastrophe, supporting communities, farmers and businesses to go green will help them to be more resilient and environmentally sustainable.

In this line, Equity Bank Uganda, under its Energy and Environment pillar will play a leading role in climate change mitigation and adaption interventions aimed at reducing emissions and creating resilience in communities, institutions, and industries.

The bank has made available funding in the areas of renewable energy, energy efficiency, water, climate smart agriculture, circular economy and waste management, green buildings, transportation and afforestation.

In addition to funding, Equity will also address these challenges by increasing awareness of the benefits of a greener economy and encouraging SMEs to adopt cleaner production processes and operations that protect the planet.