FIF - Bank of Africa (BMCE) - SME Line

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of up to EUR 50m of debt financing to Bank of Africa (BOA) for on-lending to small and medium-sized enterprises (SMEs) in Morocco.

Project ID 54175

Status Repaying

Location

Morocco

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Meryem Channawi
mchannawi@bankofafrica.ma
https://www.bmcebank.ma/
140 Avenue Hassan II Casablanca, Morocco

Project ID 54175

Status Repaying

Location

Morocco

Business Sector

Financial Institutions

Notice Type

Private

Approval Date

14 Jun 2023

Disclosure date

09 May 2023

Project description

Provision of up to EUR 50m of debt financing to Bank of Africa (BOA) for on-lending to small and medium-sized enterprises (SMEs) in Morocco.

Project objectives

The project will contribute to building a more competitive and resilient economy in Morocco by supporting SME financing.

Transition impact

ETI Score:60

nsition impact of the project is expected to derive from market expansion, by providing long-term funding to SMEs. It will have positive demonstration effects particularly with respect to utilising financial intermediaries, for market expansion of SME lending.

Client information

BANK OF AFRICA

Bank of Africa ("BOA") is the third largest bank in Morocco in terms of total assets and loans at YE2022. BOA will be allowed to on-lend all or part of the proceeds of the loans to Maghrebail, its fully consolidated leasing subsidiary where it holds 52.46% of the capital, and Salafin, a consumer credit subsidiary where BOA holds 62% of capital.

EBRD Finance Summary

EUR 50,000,000.00

Loan of EUR 50 million.

Total project cost

EUR 50,000,000.00

Up to EUR 50 million.

Additionality

This transaction will assist BOA in funding SMEs in Morocco, which are the core of the Moroccan economy, but remain underserved by the banking sector. The loan is in EUR, which will help BOA fund its business in foreign currency in the challenging context that arose after the war in Ukraine.

Environmental & Social Summary

Categorised FI (ESP 2019). Bank of Africa is an existing Client of the Bank and has been satisfactorily complying with EBRD's E&S Policy. BoA will need to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9; continue to implement the applicable EBRD's E&S Risk Management Procedures for TFP (regarding existing TFP line with the EBRD) and Micro, SME and Corporate Loans. The Borrower will be required to submit annual environmental and social reports to the Bank to monitor their E&S performance and progress.

Technical Cooperation and Grant Financing

None

Company Contact Information

Meryem Channawi
mchannawi@bankofafrica.ma
https://www.bmcebank.ma/
140 Avenue Hassan II Casablanca, Morocco

PSD last updated

09 May 2023

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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FIF - Bank of Africa (BMCE) - SME Line

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)