GEFF Lebanon - BLOM Bank

Location:

Lebanon

Project number:

51382

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Status:

Passed Final Review, Pending Board Approval

PSD disclosed:

09 Oct 2019

Translated version of this PSD: Arabic

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

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. 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 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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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