GCF GEFF Regional FW - BMCE Bank - 2

Location:

Morocco

Project number:

50765

Business sector:

Financial institutions

Notice type:

Private

Target board date:

25 Apr 2019

Status:

Signed

PSD disclosed:

21 Mar 2019

Translated versions of this PSD: ArabicFrench

Project Description

A loan of up to EUR 10 million to BMCE Bank for on-lending to private sector borrowers for sustainable energy investments. A first tranche of EUR 5 million has already been approved and signed (opid 50620).

Project Objectives

Provision of a loan of up to EUR 10 million to Banque Marocaine de Commerce Exterieur ("BMCE") for on-lending 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 utilization through improved industrial competitiveness in light of rising energy costs.

Client Information

BMCE BANK OF AFRICA SA

BMCE Bank is the 3rd largest bank in Morocco with total consolidated assets of EUR 27 billion as of June 2018

EBRD Finance Summary

EUR 3,848,358.00

Total amount of EUR 10 million in two tranches :

  • tranche 1 - signed on 27/02/2019: EUR 5million (EBRD portion : EUR 3.75million, GCF portion: EUR 1.25 million),
     
  • tranche 2: EUR 5million (EBRD portion : EUR 3.75million in MAD equivalent, GCF portion: EUR 1.25 million).

Total Project Cost

EUR 38,785,758.00

EBRD portion: EUR 3.75 million in MAD equivalent.

Environmental and Social Summary

Categorised FI (ESP 2014). BMCE Bank will be required to comply with PRs 2, 4 & 9, and further, mplement 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 nvironment, health and safety and labour standards and the eligibility criteria for energy efficiency "EE") and renewable energy ("RE") projects. This will be confirmed to BMCE Bank by a Project onsultant engaged by the EBRD to assess project eligibility.

Technical Cooperation

TC funds of up to EUR 150k for internal capacity building of BMCE and technical assistance to subborrowers.

Company Contact Information

https://www.bmcebank.ma/
140 Avenue Hassan II 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

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.