Translated version of this PSD: Arabic
Subscription to a bond issued by Fransabank SAL to finance green projects.
Increase financing of projects for commercial energy efficiency, renewable energy, and green buildings in Lebanon.
Supporting sustainable lending for green projects and encouraging capital markets activity in Lebanon.
Fransabank SAL is the fourth-largest bank in Lebanon at December 2016 with assets of USD 20.9 billion.
EBRD Finance Summary
EBRD subscribed to the bond in the amount of USD 15,000,000.
Total Project Cost
IFC subscribed to the bond in the amount of USD 45,000,000.
Environmental and Social Summary
Categorised FI (ESP 2014). Fransabank is implementing the IFC's Performance Standards which are in line with EBRD's Performance Requirements (PRs). Fransabank has a dedicated environmental and social management system (ESMS) officer in place who has undergone the IFC's on-line STEP training as well as attending the IFC's Performance Standards workshop. E&S training is also undertaken within the branches. For this transaction Fransabank will update the bank's existing ESMS to include an external E&S complaints procedure and training staff on the revised ESMS. Any Renewable Energy (RE) and Energy Efficiency (EE) projects financed by the bank must also comply with the EBRD's E&S Eligibility criteria for RE and EE projects. Fransabank will be required to comply with EBRD's Performance Requirements 2, 4 and 9 and submit Annual Environmental and Social Reports to the EBRD on compliance with the PRs and on the upgrade and implementation of the ESMS.
Company Contact Information
Mr. Georges Andraos
Fransabank Center, Hamra Street, P.O. Box 11-0393, Beirut - Lebanon
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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