NongHyup Bank Offers Low-Interest Loans to Carbon Reduction Companies... First Agreement Signed
Supply of 'NH Carbon Reduction Leading Enterprise Loan' to Korea Electric Power Corporation
NH Nonghyup Bank announced on the 19th that it signed the first contract for the 'NH Carbon Reduction Leading Enterprise Loan' with Korea Jeonguche Co., Ltd., a precursor material production company, at the Nonghyup Bank headquarters in Jung-gu, Seoul on the 18th to promote green policy finance.
The NH Carbon Reduction Leading Enterprise Loan is a policy fund product that supports low-interest loans to companies with investment demand for greenhouse gas reduction facilities, contributing to carbon neutrality and the activation of green finance.
Korea Jeonguche Co., Ltd. is a company implementing carbon reduction by utilizing its specialized recycling technology to produce precursor materials, which are key raw materials for electric vehicle batteries. The contracted funds will be used for precursor material production and waste battery recycling facility investments, and it is expected to achieve an annual greenhouse gas reduction effect of approximately 350,000 tons.
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Lee Seok-yong, President of Nonghyup Bank, stated, “As Nonghyup, based on agriculture and rural areas, holds the mission of being a leader in green finance, we will expand financial support for carbon reduction companies and take the lead in practicing carbon neutrality by 2050.”
Lee Seok-yong, President of NH Nonghyup Bank (right), and Choi Nae-hyun, CEO of Korea Jeonguche Co., Ltd., are posing for a commemorative photo at the NH Carbon Reduction Leading Company Loan Agreement Ceremony held on the 18th at the NH Nonghyup Bank headquarters in Jung-gu, Seoul. Photo by Nonghyup Bank
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