Arab Bank Funds Construction of the Largest Solar Power Plant in Palestine with a Capacity of 24 Megawatts as Part of Its Commitment to Sustainable Financing

SadaNews - As part of its strategic commitment to environmental, social, and governance sustainability standards, and within its ongoing efforts for sustainable financing in Palestine, Arab Bank announced its full funding for the "Nur Tubas" solar power plant project in Tubas Governorate and the northern Jordan Valley, starting from its initial stages until it enters into full operation with a production capacity of 24 megawatts, thus becoming the largest solar power plant of its kind in Palestine.

The announcement coincided with the official opening of the plant, which was recently attended by Prime Minister Dr. Mohammad Mustafa, the Chairman of the Energy and Natural Resources Authority, Eng. Ayman Ismail, several ministers, representatives of official bodies, the private sector, and farmers. The official speeches emphasized the strategic importance of this vital project, and the pivotal role of Arab Bank as a primary financial partner since the inception of the project, and its confidence in it throughout its various stages, leading to its transformation into an operational national project that serves the community and the national economy.

Commenting on this project, Dr. Jamal Hourani, Director of the Palestine Area at Arab Bank, stated: "We are proud to fund the 'Nur Tubas' project since its early stages as it stands as an advanced model for large-scale green financing projects that align with the bank's commitment to applying environmental, social, and governance sustainability standards. We believe that the banking sector's role goes beyond traditional financing to include empowering strategic projects that have a sustainable economic, social, and environmental impact, contributing to enhancing energy security, supporting farmers, and serving local communities."

Hourani added that this project reflects the bank's confidence in national projects capable of creating sustainable change, emphasizing Arab Bank's continued expansion of its portfolio in sustainable financing and support for renewable energy initiatives and green infrastructure, further promoting the transition to a green economy.

The founders and owners of the Nur Tubas project expressed their appreciation for the role of Arab Bank, highly valuing the bank's trust and belief in the importance of this investment since its early stages, as the financing provided by Arab Bank has been a decisive factor in transforming the idea into a pioneering national project that serves farmers, enhances sustainability, and helps reduce agricultural production costs.

The "Nur Tubas" project is a clear example of the effective partnership between the banking sector and productive sectors, as it contributes to reducing reliance on traditional energy sources, supporting the transition to clean energy, and enhancing stability in the energy sector.

It is worth noting that Arab Bank is considered one of the leading banks locally and regionally in terms of its commitment to responsible financing and implementing environmental, social, and governance (ESG) sustainability standards, adopting advanced banking solutions and services that align with the latest developments in the banking industry. The bank won several awards in 2025 at the Middle East level in the field of sustainability and corporate social responsibility, reinforcing its role as an active partner in supporting major development projects, promoting sustainable development, and serving the community, as part of its vision to build a more resilient and sustainable economy for future generations.