Tabreed secures $163m debut green revolving credit facility
A leading cooling company in the United Arab Emirates (UAE) has announced the closure of its first green revolving credit facility. UAE says it is giving a significant impact on environmental preservation and sustainable development in its bid to boost the Middle Easts green energy efficient future, according to the BBC s Riyadh Financial Times reports.. () But The announcement has been carried out in Abu Dhabi, the Gulf economy giant has confirmed it will be able to operate within the next five years, as part of an agreement with the Emirates NBD and the Dubai commercial bank (ADCB), which aims to help developing innovative technologies in their growing supply of energy and water efficiency. The company has said it has agreed to close its green revival credit schemes in 2022, and is to invest millions of dollars in green projects aimed at encouraging renewable growth in energy, water and wind infrastructure, but does not have enough funds to support climate change and boost efforts to tackle the coronavirus pandemic, its chief financial Officer Adel al- Wahedi has described the move as a testament to its unwavering commitment to green initiatives across the world. Here, we speak to Tabreed, one of the first businesses to take part in an ambitious global corporate finance partnership with BAE Bank (BAE) - including the Red Coalition of Great Barrier Renewable Energy and Water Eefficiency (RCF) project to provide savings for the country.
Source: tradearabia.comPublished on 2023-12-21
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