GCF GEFF Regional - BMCI MorSEFF

Location:

Morocco

Project number:

50286

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

31 Oct 2018

Status:

Disbursing

PSD disclosed:

12 Sep 2018

Project Description

A loan of up to EUR 20 million to Banque Marocaine du Commerce et de l'Industrie" ("BMCI") to onlend to private sector borrowers (including SMEs) for sustainable energy investments.

Project Objectives

The EBRD is considering providing a loan of up to EUR 20 million to Banque Marocaine du Commerce et de l'Industrie" ("BMCI") to on-lend to private sector borrowers (including SMEs) for sustainable energy investments.

Transition Impact

The transition impact of the project is expected to derive from promoting the expansion of energy efficiency and renewable energy lending in Morocco. It will have positive demonstration effects particularly with respect to utilising financial intermediaries, for energy efficiency investments.

The project will demonstrate the benefits of rational energy utilisation through improved industrial competitiveness in light of rising energy costs.

Client Information

BANQUE MAROCAINE POUR LE COMMERCE ET L'INDUSTRIE

BMCI is the 6th largest bank in Morocco with total consolidated assets of EUR 5.1 billion as of December 2017.

EBRD Finance Summary

EUR 20,000,000.00

Loan of EUR 20 million equivalents in local currency.

Total Project Cost

EUR 20,000,000.00

Up to EUR 20 million

Environmental and Social Summary

Categorised FI (ESP 2014). BMCI will be required to comply with PRs 2, 4 & 9, and further, implement and comply with the relevant EBRD's Environmental & Social (E&S) Procedures.

Beneficiaries financed through the Facility will be required to comply with national requirements for environment, health and safety and labour standards and the eligibility criteria for energy efficiency ("EE") and renewable energy ("RE") projects. This will be confirmed to BMCI by a Project Consultant engaged by the EBRD to assess project eligibility.

Technical Cooperation

None.

Company Contact Information

Abdelkeim Guergachi
abdelkerim.guergachi@bnpparibas.com
http://www.bmci.ma/
26 Place des Nations Unies, Casablanca, Morocco

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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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