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Green loans to promote electric vehicles

Wednesday, May 10, 2017

DUBAI, 10th May, 2017 (WAM) -- A new incentive programme has been launched by the UAE Ministry of Energy to encourage motorists to opt for new zero-carbon-emission electric vehicles through easy bank loans.

The announcement was made on Wednesday by the Ministry as part of its contribution to the Government Accelerators, an initiative for a solutions-based collaboration among government, private sector and academic teams, aimed to drive change, raise government efficiency and speed services to build happiness for people.

Commenting on the launch, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, said the electric vehicles are an efficient solution of high relevance to the country's efforts to diversify sources of energy and reduce carbon footprint with the ultimate goal of enhancing economic competitiveness and ensuring sustainable development.

The Energy minister was on hand as new memos of understanding were signed with the Emirates NBD and HSBC to provide easy credit encouraging motorists to go for eco-friendly cars.

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