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Monday, 5 December 2022

Growing internationally with Metito

Metito, a leading sustainability business, is able to unlock large scale circular water projects in MENA via sustainability-linked funding from HSBC: The world’s natural water resources are facing an unprecedented challenge. The global rate of water consumption has grown twice as fast as the world population in the last century, according to UN Water statistics. Dubai-based water and wastewater treatment player Metito is leading industry and governments through sustainable innovation, showing how circular water systems can resolve water shortages and other water-related challenges.

The United Nations, World Economic Forum and the World Bank all recognize water security, including resources and conservation, as a major environmental priority and a catalyst for positive change. Countries, cities, and industries are increasingly turning to circular water systems and Metito is playing an active role to make that vision a reality in key markets across the globe.

Metito has developed over 3k projects in more than 50 countries across Africa, Eastern Europe, the Middle East and Southeast Asia.

But it wants to do more. To meet the increasing international water demand, Metito has utilized a USD 120 mn Sustainability-Linked Loan (SLL) from HSBC to further its ability to move into new markets and enhance its presence in existing ones where it is developing large-scale projects.

“Metito’s vision to be the world’s leading provider of intelligent water management solutions is supported by the company’s three founding principles of Impact, Sustainability, and Innovation,” said Metito Chief Investment Officer Talal Ghandour. This loan underscores one of our key attributes of providing sustainable infrastructure to our municipal and industrial clients. The funding from HSBC and the wider consortium will strengthen our ability to grow across our target markets and marks an important step in our green transition and in achieving a circular economy through the provision of sustainable water infrastructure in nations that most need them.”

The sustainable finance solution, which is the first-of-its-kind in the Middle East’s water sector, will facilitate the expansion of Metito’s wastewater treatment projects and boost an ambitious growth strategy over the next five years. Metito is now further enabled to help more developing nations meet their environmental commitments.

“Not only is Metito a major player in intelligent water management solutions, but it is an ambitious business with a strong strategy to target international growth and unlock new markets. At HSBC, we take great pride in supporting businesses that are helping to create positive environmental impact, with a global commitment of up to USD 1 tn to support clients in transitioning to net zero,” Patricia Gomes, regional head of commercial banking, MENAT, HSBC said.

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