DCM-Fransa Green Bond (IFC-40005)

Countries
  • Lebanon
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 19, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
FRANSABANK SAL
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Finance
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 57.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 5, 2018

Disclosed by Bank Nov 9, 2017


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Project Description

This project provides financing to Fransabank through the bank's Green Bond Program, which will be used to finance energy efficiency, renewable energy, and green infrastructure projects in Lebanon.

Investment Description
  • International Finance Corporation (IFC)

The Project involves supporting the Bank through the purchase of up to US$ 75 million in multiple issuances out of its GBP over a 2-year period. Bond proceeds will be used to finance long-term green projects in Lebanon.

Private Actors

Fransabank SAL is a private bank established in 1921, with the majority shareholding (80%) being held by the Kassar Family. The German Investment and Development Corporation (DEG) is the second largest shareholder with 5% and the other shareholders of the Bank hold less than 3% each.

Contact Information

Fransabank SAL
Mr. Georges Andraos
Head of International Banking Division
+961 1 3740180
Georges.andraos@fransabank.com
Fransabank Center Hamra Street P.O. Box 11 0393 Beirut, Lebanon
www.fransabank.com

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/