GEFF Lebanon - BLOM Bank

Location:

Lebanon

Project number:

51382

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

13 Nov 2019

Status:

Concept Reviewed

PSD disclosed:

09 Oct 2019

Project Description

Provision of a senior loan to BLOM Bank SAL under the Green Economy Financing Facility (GEFF) Lebanon.

Project Objectives

Increase financing by BLOM Bank of projects for energy efficiency, renewable energy, and resource efficiency in Lebanon to contribute to the creation of a demand-driven, self-sustaining market for investments in high-performance technologies and services supporting a green economy.

Transition Impact

Supporting BLOM Bank in sustainable lending for green projects in Lebanon and associated capacity-building.

Client Information

BLOM BANK SAL

BLOM Bank is the second-largest bank in Lebanon with assets of USD 38.4bn at June 2019.

EBRD Finance Summary

USD 45,000,000.00

Total Project Cost

USD 50,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). Through the existing Trade Finance Facility, BLOM Bank is required to comply with PRs 2, 4 & 9. The Bank will further implement and comply with the Corporate-SME Micro loan procedures for the GEFF loan and is in the process of developing an E&S tool that will become an integral part of the credit approval process. Beneficiaries financed through the GEFF are required to comply with national requirements for environment, health and safety and labour standards and the EBRD's eligibility criteria for energy efficiency and renewable energy projects. This will be confirmed to BLOM Bank by a Project Consultant engaged by the EBRD to assess project eligibility. The Project is consistent with the GET approach, with a GET share of 100%.

BLOM Bank is required to submit annual environmental and social reports to the EBRD utilizing the on-line Sustainability Index for E&S performance and progress monitoring.

Technical Cooperation

Consultancy assignment to support the origination, assessment, and implementation of eligible investments.

Company Contact Information

Sarah Naamani
sarah.naamani@blom.com.lb
+961 1 729 203
+961 1 729 528
http://www.blom.com.lb
BLOM Bank s.a.l. Verdun, Beirut, Lebanon

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