CRDB Bank has launched Green Loans, a new financing facility designed to support environmentally friendly businesses and projects, underscoring the bank’s long-term commitment to combating climate change and building a green economy.
The product, unveiled by CRDB Bank’s Chief Commercial Officer, Boma Raballa, will provide affordable credit with flexible repayment terms to help entrepreneurs, especially small and medium-sized enterprises (SMEs), access capital for sustainable investments.
Sectors eligible for financing include clean energy technologies such as improved cookstoves, liquefied petroleum gas (LPG) and biogas, eco-friendly transport solutions, waste management and recycling, as well as sustainable agriculture and community-based projects.
“Our goal is to empower entrepreneurs with the financial resources they need to grow their businesses while at the same time protecting the environment,” Mr Raballa said during the launch.
The initiative follows the success of CRDB’s 2023 Green Bond, which mobilised TZS 171.82 billion. Building on that achievement, the bank now targets reaching more than two million Tanzanians with its green financing solutions.
The launch brought together various stakeholders, including the International Finance Corporation (IFC) Country Manager, Martine Valcin, and CRDB’s Acting Director for Retail and SME Clients, Farid Seif, who both expressed their commitment to advancing sustainable finance in Tanzania.
