'Green loans' in UAE to help promote electric vehicles

 11 May 2017 - 9:05

'Green loans' in UAE to help promote electric vehicles

IANS

Dubai: A new incentive has been launched by the UAE Ministry of Energy to encourage motorists to opt for new zero-carbon-emission electric vehicles through easy bank loans.

The announcement was made on Wednesday by the ministry as part of its contribution to the Government Accelerators, an initiative for a solutions-based collaboration among government, private sector and academic teams.

It is aimed to drive change, raise government efficiency and speed services to build happiness for people.

Commenting on the launch, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, said the electric vehicles are an efficient solution of high relevance to the country's efforts to diversify sources of energy.

The electric vehicles will help reduce carbon footprint with the ultimate goal of enhancing economic competitiveness and ensuring sustainable development, the report said.