Republic Bank Leading the Charge in Sustainable Transportation with “My Electric Ride” Vehicle Loan Event

Port of Spain, Trinidad, October 28, 2024 – In support of the national and regional effort to reduce carbon emissions, and to provide financial solutions to help citizens embrace sustainable transportation, Republic Bank will host its novel "My Electric Ride" Vehicle Loan Event at its Trincity branch on November 2, 2024 from 10 am to 5pm. The event, which is free to the public, serves to highlight the Bank’s innovative financing options specifically for green vehicles and will showcase an extensive range of electric and hybrid vehicles available from local car dealers.

Attendees visiting the My Electric Ride event will have the opportunity to learn about the benefits of switching to eco-friendly vehicles and to get pre-assessed for Republic Bank’s bespoke financing package for electric and hybrid vehicles that includes benefits such as:
• 100% financing
• Up to 8 years to repay
• Rates starting as low as 3.5%

Additionally, the Bank’s Trincity branch has partnered with over 10 car dealers as well as car accessories and service providers to create a convenient one-stop-shop for customers interested in purchasing a vehicle. To facilitate this, attendees are asked to walk with a form of picture identification as well as an up-to-date pay slip and job letter.

“We are committed to facilitating Trinidad and Tobago’s transition to a more sustainable future, which must include the opportunity for cleaner modes of transportation,” shared P. Vic Salickram, Vice President at Republic Bank. He continued, “With this event, we hope to make the transition to electric and hybrid vehicles more accessible and affordable to everyone, while also contributing to the multi-sectoral effort underway to reduce greenhouse gases and mitigate the effects of climate change.”

The “My Electric Ride” Vehicle Loan Event builds on the Bank's focus on sustainability, furthering its commitment to reducing the country’s carbon footprint and fighting climate change. In September 2024, the Bank hosted its highly successful Sustainability Expo at the Centre of Excellence, Macoya, bringing together over 100 exhibitors to promote sustainability across sectors, with thousands of members of the public in attendance.

Environmental responsibility is one component of the Republic Financial Holdings Limited’s (RFHL’s) multi-pronged approach to integrating its Environmental, Social and Governance (ESG) strategy into all facets of its operations. In 2020, the Group made a commitment to align with the Paris Agreement, the United Nations Environment Programme Finance Initiative (UNEP FI), and the Sustainable Development Goals (SDGs). It is the first indigenous financial institution in the English-speaking Caribbean to sign the UNEP FI Principles for Responsible Banking, and is a founding member of the UN-convened Net Zero Banking Alliance.

In September of this year, the Group achieved 75% of its target to lend and invest US$200 million in climate finance to help mitigate climate change and build resilient infrastructure across the sixteen (16) territories in which it operates.

October 28, 2024
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