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Qatar National Bank launches environmentally friendly finance project

The Doha-based bank will loan cash to the British bank HSBC to be used for green transportation investments.
A picture taken on Sept. 3, 2019, shows freshly painted blue roads in Doha, an experiment to cool the tarmac surface and reduce the temperature of surrounding areas.

Qatar National Bank and the London-based bank HSBC have launched a green energy-focused financing instrument. 

Under the agreement, Qatar National Bank will loan cash to HSBC. Qatar National Bank will in turn receive green bonds, which are debt instruments designated to raise money for environmental projects. HSBC will then allocate an amount equal to the bond purchase price to climate and environmentally friendly businesses and projects that promote a low use of carbon, with a focus on “clean transportation,” the official Qatar News Agency reported

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