COVID-19’s repercussions stimulate investments into Green loans

COVID-19’s repercussions stimulate investments into Green loans

Bahrain Association of Banks (BAB), affirmed that the exceptional circumstances inflicted by the COVID-19 pandemic and its repercussions on business might represent a favorable opportunity for banks to move more towards "Green loans“. These are loans to businesses and projects that consider energy efficiency management, more adoption of renewable energy sources, and reduced waste.



Dr. Waheed Al Qassim, CEO of the Bahrain Association of Banks, said that the sustainability of the performance and profitability of banks and financial institutions is linked to business sustainability, mobility, and economic growth. He perceives that it's imperative to evoke the importance of paying more attention to borrowers who provide feasibility studies that take into account the environmental and social perspective, and contribute to implementing the basic needs of the current generations in a way that does not affect the interest and resources for future generations, and focus on economic and social development and environmental preservation.



"The banking sector is keen to contribute to the strategy of sustainable economic development in Bahrain and support the economic, social, and environmental dimensions of this strategy. Banks should finance projects that prioritize sustainable development, including SMEs and micro-projects, and extend the loan portfolio to cover corporate loans and