The Uganda Energy Credit Capitalization Company (UECCC) helped launch the Equi Green Loan, a low-cost financing option, on Wednesday to help low- and middle-income homes access clean energy for lighting, cooking, and engaging in climate-smart agribusiness. Cooking and heating fires, solar-led lighting, biomass systems, irrigation systems, and water storage tanks can be purchased by equity clients through simple, cheap loan products starting at as little as sh200,000 and repayable over a six- or twelve-month period.
The clean renewable energy loan is offered at all Equity Bank locations, and customers may pick up the item through the closest agent designated by Equi Green Loan. The goal of the product is to enable Ugandans to access electricity in off-grid areas by addressing the affordability barrier resulting from the upfront cost of solar systems, according to Managing Director of UECCC Specioza Kimera Ndagire, who was speaking at the launch of the Equi Green loan facility in Kiboga District. This is consistent with the National Development Plan (NDPIII) Sustainable Energy Program’s goals of promoting the use of energy-efficient practices and technology, boosting clean energy adoption and usage, and expanding access to and use of electricity. Through their extensive nationwide customer network, she continued, “our new cooperation with Equity Bank Uganda will help us to reach more individuals.”
Samuel Kirubi, Managing Director of Equity Bank, stated that the bank will make sustainable energy more widely available by providing inexpensive Under the umbrella of its Energy and Environment pillar, Equity Bank Uganda will keep taking the lead in interventions for decreasing emissions and building resilience in societies, institutions, and businesses to mitigate and adapt to climate change. The Bank has made funding available in the following fields: regenerative energy, energy efficiency, water, climate-wise agriculture, circular economy and waste management, green structures, transportation, and afforestation. In addition to providing funds, Equity will tackle these issues by raising awareness of the advantages of a greener economy and urging SMEs to adopt operations and manufacturing methods that are more environmentally friendly.
