Original disclosure @ IFC website
Updated in EWS May 8, 2019
Disclosed by Bank Apr 29, 2019
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According to bank documents, the Project consists of a 7-year US$140 million senior loan to Barclays Bank Mauritius Limited (“BBML”). The IFC loan will strengthen BBML’s long-term funding position and support the expansion of its lending operations to Small and Medium Enterprises (SMEs) and in Climate Finance.
The proposed investment consists of a 7-year senior loan of up to US$140 million.
Barclays Bank Mauritius Limited is a wholly-owned subsidiary of Absa Group Limited (“AGL”). AGL is a pan-African financial services group listed on the Johannesburg Stock Exchange. AGL is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 42,000 employees.
Barclays Bank Mauritius Limited
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/