GEFF Lebanon - SGBL

Location:

Lebanon

Project number:

51383

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 SGBL under the Green Economy Financing Facility (GEFF) Lebanon.

Project Objectives

Increase the capacity of SGBL Bank to finance energy efficiency, renewable energy, and resource efficiency projects in Lebanon to help create a demand-driven, self-sustaining market for investments in high-performance technologies and services supporting a green economy.

Transition Impact

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

Client Information

SOCIETE GENERALE DE BANQUE AU LIBAN SAL

SGBL is the 3rd largest bank in Lebanon with total consolidated assets of USD 26 billion as of December 2018.

EBRD Finance Summary

USD 45,000,000.00

Total Project Cost

USD 50,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). SGBL is an existing Client of the EBRD. Through the existing SME loan facility, SGBL is committed to comply with EBRD's Performance Requirements (PR) 2, 4 and 9. Monitoring to date has confirmed such compliance. As part of the proposed Project, eligible sub-projects will be required to be in compliance with the national environmental, social, labour, health and safety legislation. This will be confirmed to the bank by a Project Consultant who will be hired by the EBRD to cover this issue. SGBL will be required to submit Annual Environmental and Social Reports to the EBRD on the implementation of the PRs and its ESMS.

Technical Cooperation

Assignment to support the origination, assessment and implementation of eligible investments in the agricultural, industrial, commercial, and residential sectors.

Company Contact Information

Mrs Mona Mroue
http://www.sgbl.com.lb
Saloumeh Roundabout, Dekwaneh, SGBL building Beirut; Lebanon

Business opportunities

For business opportunities or procurement, contact the client company.

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Text of the PIP

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Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.