According to bank documents, the investment involves provision of up to EUR 40 million green financing package to Banque Centrale Populaire ("BCP") which will be co-financed by Green Climate Fund.
The EBRD loans will enable BCP and its leasing subsidiary Maroc Leasing to on-lend to eligible private sub-borrowers (i) to implement green investments in energy efficiency, renewable energy, and climate resilience measures and (ii) to boost the competitiveness of Small and Medium Enterprises part of a value chain.
The project supports the Green TI quality by facilitating the direction of funding towards climate technologies and services in eligible sectors that will drive the transition to environmentally sustainable, low-carbon and climate-resilient economy in Morocco.
Senior unsecured loan of up to USD 40 million, out of which i) up to EUR 30 million is expected to be co-financed by EBRD and ii) up to EUR 10 million is expected to be co-financed by Green Climate Fund.
The package will comprise:
i. a loan in the amount of up to EUR 10 million equivalent under the GCF GEFF Regional Framework ("GCF GEFF"), of which i) up to EUR 7.5 million equivalent is expected to be financed by EBRD and ii) up to EUR 2.5 million equivalent is expected to be co-financed by the Green Climate Fund;
ii. a loan in the amount of up to EUR 30 million equivalent under the GCF GEFF Regional - Morocco Value Chain Framework ("GVC"), of which i) up to EUR 22.5 million equivalent is expected to be financed by EBRD and ii) up to EUR 7.5 million equivalent is expected to be co-financed by the Green Climate Fund;
BANQUE CENTRALE POPULAIRE DU MAROC
BCP is the second largest bank in Morocco in terms of lending with a market share of 24% and operates an extensive branch network throughout Morocco with around 1,500 branches.
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 firstname.lastname@example.org 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.