December 5, 2022 – Sana’a
As the risks of climate change increase, and as part of enhancing efforts and achieving environmental responsibility, Al-Amal Microfinance Bank and Holm Akhdar for Environmental Studies and Consultations signed, on Sunday, December 4, 2022, in Sana’a, a joint memorandum of understanding to build a partnership and cooperation, aiming at adopting environmental responsibility in financial operations and services, as a pioneering and inspiring approach to the banking sector -for the first time- at the national level.
Under this memorandum, signed by: Al-Amal Microfinance Bank, represented by the Assistant Director-General, Ghamdan Abdu Awn, and Holm Akhdar for Environmental Studies and Consultations, represented by Mohammed Al-Hakimi, Director-General, the two parties will launch a two-year partnership.
Holm Akhdar, hereby, will provide the necessary consultations and appropriate solutions for the application of environmental standards in the Bank’s services. Thus, Al-Amal Microfinance Bank will be the first bank in Yemen adopting the approach of environmental responsibility, sustainability and green growth in all its operations, activities and banking products.
This joint cooperation between the two sides includes the development, launch and application of several green financial projects and products, in a way that enhances the two parties’ contribution to supporting local and national efforts pertaining environment preservation, and supporting efforts towards achieving the 2030 Sustainable Development Goals, at the local, national and international levels.
Al-Amal Microfinance Bank has many potentials enabling it to be a pioneer in green financing. It is an example for its full compliance with institutional governance requirements, as it is ranked as the first microfinance bank in Yemen and the Middle East and North Africa. It started its activities in January 2009, under the supervision and control of the Central Bank of Yemen.
Holm Akhdar for Environmental Studies and Consultations is an environmental research and consultancy firm registered and licensed by the Ministry of Industry and Trade in the Republic of Yemen. It is the consultative arm of the Holm Akhdar Foundation, as it will work to provide environmental advisory services, prepare field studies and environmental policies, in addition to providing solutions to address environmental issues, with the aim of raising awareness of the environmental and societal responsibility of business sectors and foresight the green growth approach in Yemen.
Holm Akhdar calls upon all actors in the national private sector to abide by their environmental responsibilities. It also encourages companies and financial, commercial and industrial institutions to apply environmentally-friendly and climate-sensitive practices that provide environmental sustainability and green growth, and thereby contribute to the preservation of Yemen’s environment.
