Credit Libanais - Regional TFP and SME loan

Location:

Lebanon

Project number:

49858

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

19 Jun 2019

Status:

Board Approved

PSD disclosed:

15 May 2019

Translated version of this PSD: Arabic

Project Description

Provision of (i) a TFP limit of USD 50 million to Credit Libanais SAL ("CL") and (ii) a loan of up to USD 50 million to CL in order to on-lend to micro, small and medium-sized enterprises ("MSMEs") in Lebanon.

Project Objectives

The TFP limit will support CL in serving its trade finance customers, while the loan will be used to onlend to MSMEs in Lebanon.

Transition Impact

The trade finance limit will support CL's documentary operations and will provide a source of funding for pre-export and post-import financing and local distribution of imported goods.

The EBRD loan will increase the availability of finance to MSMEs in Lebanon, allowing greater access to finance for this largely underserved segment.

Client Information

CREDIT LIBANAIS SAL

Credit Libanais SAL is Lebanon's 9th largest bank with assets of USD 12.4 billion. It was established in 1961.

CL operates through 71 branches in Lebanon complemented by a branch in Cyprus, a branch in Bahrain, 2 branches in Iraq, a subsidiary in Senegal and a Representative Office in Montreal, Canada. CL also owns an investment bank, Islamic bank, a leasing company and an insurance company that are domiciled in Lebanon.

Through its local and foreign network, CL offers a broad array of financial products and services that embrace retail, corporate, investment banking, Islamic banking, leasing, micro-finance and SME funding that can be tailored to our client's needs.

CL is a pioneer in e-banking services, operating a wide network of ATMs and POS, an advanced Call Centre and internet banking services that its customers can easily and securely access from anywhere in the world.

EBRD Finance Summary

USD 50,000,000.00
TFP limit

USD 50,000,000.00
SME loan

Total Project Cost

USD 50,000,000.00
TFP limit

USD 50,000,000.00
SME loan

Environmental and Social Summary

Categorised FI (ESP 2014). CL will be required to comply with the Bank's Performance Requirements 2, 4 and 9 and implement the EBRD's Environmental and Social Risk Management Procedures for SME and Micro Loans. The bank will also be required to submit Annual Environmental and Social Reports to the EBRD by completing the EBRD's FI Sustainability Index.

Technical Cooperation

None.
Company Contact Information

Anthony Jabbour - Head of Financial Institutions
ajabbour@cl.com.lb
+961 1 608250
www.creditlibanais.com.lb

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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

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.