• Bank of Zambia says it is currently working on Green Finance Loan guidelines.
• This is to support lower interest Green Electricity Loans for the domestic sector.
• The Central Bank has been building capacity to enable financial instituions give appropriate credit towards promotion of the Green Finance Agenda.
Bank of Zambia says it is currently working on Green Finance Loan guidelines to support lower interest Green Electricity Loans for the domestic sector.
Responding to a question raised by Money FM News during the announcement of the Monetary Policy Rate, Bank Director for Non-Bank Financial Institutions Supervision Freda Tamba, said the Central Bank has been building capacity to enable financial instituions give appropriate credit towards promotion of the Green Finance Agenda.
Ms. Tamba stated that in this regard, the Bank has had several engagements with other institutions such as Alliance for Financial Inclusion and Financial Sector Deepening Africa, as well as bilateral and multilateral instituions.
““We have seen the impact of climate change on the environment generally in Zambia, we have already began to see recently even things like flash floods and what impact do they have on the community and the populace at large.”
“So what the Bank has been doing, firstly we have been building capacity to see how the bank can contribute towards enabling financial instituions to give appropriate credit especially to promote the Green Finance Agenda,” Ms. Tamba said.
She added that Bank of Zambia is working on extensive directions to the financial institutions to enable them provide credit which will help institutions that are venturing into the green sector.
“So we are working on Green Finance Loan guidelines with a lot of engagements with other institutions such as Alliance for Financial Inclusion, Including other bilateral and multilateral instituions such as the World Bank,” she added.
