Provision of a senior loan to BLOM Bank SAL under the Green Economy Financing Facility (GEFF) Lebanon.
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.
Supporting BLOM Bank in sustainable lending for green projects in Lebanon and associated capacity-building.
BLOM BANK SAL
BLOM Bank is the second-largest bank in Lebanon with assets of USD 38.4bn at June 2019.
EBRD Finance Summary
Total Project Cost
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.
Consultancy assignment to support the origination, assessment, and implementation of eligible investments.
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