Credit Agricole Egypt and Egyptian renewable energy company Infinity have established a partnership to offer solar energy loans to Infinity's customers. The financing product provides individuals with access to loans for solar equipment purchases, featuring lower interest rates and repayment periods of up to seven years.
The companies announced the agreement on Tuesday. Infinity stated the collaboration aims to increase household solar adoption across Egypt. The company develops utility-scale and decentralized solar projects and counts institutional investors including Africa Finance Corporation (AFC) and the European Bank for Reconstruction and Development (EBRD) among its shareholders.
Jean-Pierre Trinelle, Managing Director of Credit Agricole Egypt, noted the French banking group has committed to achieving carbon neutrality by 2050 for both its operational activities and financed emissions.
