The partnership agreement was signed by Mr. Jean Pierre
Trinel, Managing Director of Crédit Agricole Egypt, and Mr. Ashraf El-Bishry,
General Manager of Infinity, alongside senior representatives from both
organizations.
This collaboration allows Infinity's customers to access
Crédit Agricole Egypt's solar energy loan. This loan enables individuals to
purchase solar energy products with competitive interest rates and repayment
plans up to seven years, easing financial barriers and encouraging the use of sustainable
energy systems.
The initiative highlights the economic and environmental
benefits of solar energy, empowering individuals to choose sustainable options
for a greener future. It aligns with Egypt's Vision 2030 and the Central Bank
of Egypt's sustainable finance directives, promoting environmental, social, and
governance (ESG) practices in the financial sector, diversifying energy
sources, and reducing harmful carbon emissions.
Mr. Jean Pierre Trinel emphasized Crédit Agricole's
commitment to sustainability: "Sustainability is a core pillar of Crédit
Agricole's strategy. We continuously work to reduce the environmental impact of
our activities and financing, aiming for carbon neutrality by 2050. This
partnership allows us to offer green financing solutions that meet our
customers' needs, strengthening our joint efforts to expand clean energy use
and accelerate the shift to a green economy."
Mr. Mohamed Ismail Mansour, Co-founder and CEO of Infinity,
stated: "Infinity is dedicated to expanding clean and renewable energy
solutions, crucial for improving quality of life and environmental
preservation. This partnership with Crédit Agricole Egypt is a significant step
towards making solar energy accessible to households nationwide. By combining
financial innovation with scalable technology, we empower individuals to
actively shape Egypt's clean energy future."
Engineer Nayer Fouad, Co-founder and CEO of Infinity, added:
"This cooperation demonstrates our commitment to providing practical
solutions that support Egypt's clean energy goals. Partnering with a trusted
entity like Crédit Agricole Egypt makes renewable energy more accessible for
individuals and families, while increasing their awareness of its value. This
marks a new step towards achieving long-term sustainable environmental and
economic impact."
Ms. Nevine Shoukry, Head of Retail Banking, SME, and
Corporate Banking at Crédit Agricole Egypt, affirmed: "Crédit Agricole
Egypt is committed to offering green financing solutions that enable our
customers to embrace a more sustainable lifestyle. This collaboration with
Infinity embodies our shared vision to empower individuals, support
communities, and protect our planet."
Founded in 2014, Infinity is a leading renewable energy
solutions provider in Egypt. The company offers integrated clean energy
generation services, developing, financing, and operating solar energy projects
for both industrial and residential clients. Infinity is the largest Egyptian contributor
to the Benban Solar Park, Africa's largest photovoltaic power plant, with a
total capacity of nearly 1465 MW.
Since 2018, Infinity has also established Egypt's largest
and fastest-growing electric vehicle charging network, boasting over 700 charging
points across 16 governorates. With support from institutional shareholders
like the Africa Finance Corporation (AFC) and the European Bank for
Reconstruction and Development (EBRD), Infinity is a key player in Egypt's and
Africa's energy transition.
Crédit Agricole Egypt is part of the global Crédit Agricole
Group, making it the sole French bank operating in Egypt. Since its 2006
establishment, it has become an active participant in the Egyptian financial
sector, serving approximately 500,000 clients, including individuals, SMEs, and
large corporations. The bank offers a full suite of banking products, services,
and advanced digital solutions, with a primary focus on customer satisfaction.
Demonstrating its strong commitment to sustainability,
Crédit Agricole Egypt is the first bank in Egypt and North Africa to receive
the prestigious LEED Platinum certification for its headquarters. This
recognition highlights its environmentally responsible design, which includes a
solar power station that helps reduce carbon dioxide emissions.
Further supporting the green economy transition, Crédit Agricole Egypt signed a financing agreement with the European Bank for Reconstruction and Development (EBRD) under the Green Economy Financing Facility (GEFF) program and the Green Climate Fund (GCF). This agreement aims to support businesses investing in energy efficiency and renewable energy projects.