GCF GEFF Regional - BMCI MorSEFF (EBRD-50286)

Countries
  • Morocco
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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.
Borrower
BANQUE MAROCAINE POUR LE COMMERCE ET L'INDUSTRIE
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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)
$ 23.25 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 20 million
Converted using 2018-09-12 exchange rate.
Loan Amount (USD)
$ 23.25 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 20
Converted using 2018-09-12 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 13, 2019

Disclosed by Bank Sep 12, 2018


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Project Description

The project is a loan of up to EUR 20 million to Banque Marocaine du Commerce et de l'Industrie"  to onlend to private sector borrowers (including SMEs) for sustainable energy investments. It aims to on-lend to private sector borrowers (including SMEs) for sustainable energy investments. Further, this 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.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Banque Marocaine pour le Commerce et l'Industrie, together with its subsidiaries, provides retail and corporate banking services to individual and business customers. The company offers various accounts, savings and investment products, and insurance products and services; and card and credit products.

Contact Information

Project Contact: Abdelkeim Guergachi
Email Address: abdelkerim.guergachi@bnpparibas.com
Website: http://www.bmci.ma/
Office Address: 26 Place des Nations Unies, Casablanca, Morocco

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.