Centenary Bank has announced a 50 billion shillings fund for low interest renewable energy loans to support green financing in the country.

The Ugandan Government has a target to end the use of firewood and charcoal in Uganda by 2065 which will help to restore and protect the green environment.

While addressing journalists at Nakasero, Kampala during the half-day Green Innovation Finance Forum attended by people dealing in renewable energy business, the Manager Housing and Renewable Energy Business at Centenary Bank, Abdul Kyanika Nsibambi said that over 88% of Ugandans use firewood and charcoal for cooking which is a big threat to green environment in the country so an intervention is needed to stop the vice saying renewable energy products are cheap and save time.

Nsibambi adds that Centenary Bank has decided to collaborate with all partners dealing in renewable energy to be given low interest loans especially to traders such that they buy and sell renewable energy equipment at low prices with a view of enticing people to embrace the use of renewable energy.

He has advised people to desist from wrong briefs that some renewable energy products such as bio-gas, electric pressure cookers (EPC) among others are very dangerous to human life but instead learn how to co-exist with them.

Meanwhile, Eng. David Birimumaso, the acting Assistant Commissioner for Energy Efficiency and Conservation at the Ministry of Energy and Mineral Development disclosed that Uganda has many renewable energy resources like; bio-energy, water/hydro, solar and others that can be used for energy production and energy services and that the Government is committed to put whatever is needed to see that Ugandans embrace the use of renewable energy to save the environment.

By Charles Katabalwa

28 Nov 2024

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