Emirates Telecommunications Group Company PJSC announced that it has successfully signed its first Green Loan agreement with a consortium of banks. The agreement, amounting to AED 366 million (circa USD 100 million), represents an important milestone for e& as it signifies the Group?s commitment to sustainable practices and responsible financial management. The proceeds of the loan will be used to finance eligible green projects that are in line with the UN Sustainable Development Goals and cover the following International Capital Market Association (ICMA) and Loan Market Association (LMA) eligible Green Projects categories: renewable energy, energy efficiency and clean transportation.

e& Sustainable Finance Framework has been assessed by Morningstar Sustain analytics, which cement that e& Sustainable Finance Framework is credible, impactful and aligns with the Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2023, Green Loan Principles 2023, and Social Loan Principles 2023. First Abu Bank PJSC, HSBC Bank plc and Standard Chartered Bank acted as joint ESG Structures on e& Sustainable Finance Framework . The facility has been structured with a bullet repayment at the end of the three-year tenure.

This strategic move aligns with the ongoing efforts to contribute positive and meaningful impact to environmental sustainability, and it believe it will strengthen its position in fostering a greener future.