According to the FMO, the facility is dedicated to support BMCE's initiatives towards improvement of solid waste management practices and standards, one of the major environmental challenges in Morocco. Management of municipal solid waste is lacking proper infrastructure and suitable funding in areas outside of major cities.
It signifies the first Green Finance transaction that FMO provides to a bank in Africa. Given the pioneering role of Morocco in the area of Sustainable Finance initiatives and the leading role of BMCE Bank of Africa, we are optimistic about the positive demonstration effect of the transaction for Africa.
As stated by the FMO, BMCE Bank of Africa is a leading pan-African financial services group. It is a universal bank with a highly diversified range of operations including retail banking, commercial banking, investment banking and specialised financial services, such as leasing, factoring, consumer credit and debt recovery. The Group, which employs more than 13,000 employees, serves today more than 5.5 million customers through more than 2,300 points of sale in some thirty countries (http://www.notremondeestcapital.com/).
No project contacts provided at the time of disclosure.
Financial Intermediary - BMCE Bank of Africa:
Address: 140 Avenue Hassan II, Casablanca
Phone: +212 (0) 522 46 24 24
FMO South Africa:
Phone: +27 11 507 2500
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.