Bank Audi - GEFF pilot

Location:

Lebanon

Project number:

50150

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

05 Sep 2018

Status:

Disbursing

PSD disclosed:

27 Jul 2018

Translated version of this PSD: Arabic

Project Description

Green Economy Financing Facility (GEFF) loan.

Project Objectives

Increase financing by Bank Audi 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 Bank Audi in sustainable lending for green projects in Lebanon and associated capacitybuilding.

Client Information

BANK AUDI SAL
Bank Audi SAL is the largest bank in Lebanon with assets of USD 43.3 billion at March 2018.

EBRD Finance Summary

USD 90,000,000.00

Total Project Cost

USD 100,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). Through the existing equity investment, Bank Audi is committed to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9. Monitoring to date has confirmed such compliance. As part of the proposed Project, for the GEFF pilot, 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. Bank Audi 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

Sana Sabra
sana.sabra@bankaudi.com.lb
+961 1 977 496
www.bankaudi.com.lb
Bank Audi Plaza - Bab Idriss, Omar Daouk Street, Beirut, Lebanon

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