People’s Bank unveils solar power loan scheme


June 13, 2016 (LBO) People’s Bank has launched a solar power loan scheme to promote the use of solar energy as part of its drive towards being a carbon conscious bank.

Launched on World Environment Day which falls on 5th June 2016, People’s Bank now offers loans to customers who would like to install solar power facilities in their homes and offices.

“As a socially responsible financial institution, People’s Bank has embarked on a powerful sustainability journey to measure, manage and mitigate its carbon footprint by launching a formal Environmental Sustainability Policy, called ‘People’s Green Pulse,’” a statement said.

The Solar power loan scheme is one such initiative that leverages on the “bank’s sustainability commitment,” the bank said.

“A growing population and greater pressure for energy generation necessitates the urgency towards finding sustainable solutions for the future. The megapolis of the future will feature smart urban settlements and seek to discover solutions to resolve issues related to urbanization of which energy is a major component,” Deepal Abeysekara, head of marketing and research, People’s Bank said.

The loan scheme will also be available to customers who wish to purchase electric cars.

People’s Bank customers can avail of concessionary interest rates and loan amounts of up to 2.5 million rupees for a maximum repayment period of five years, the bank said.