GEFF Lebanon - BLOM Bank (EBRD-51382)

Countries
  • Lebanon
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
Proposed
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
Nov 13, 2019
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.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 45.00 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)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 16, 2019

Disclosed by Bank Oct 9, 2019


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Project Description

According to bank documents, the investment involves provision of a senior loan to BLOM Bank SAL under the Green Economy Financing Facility (GEFF) Lebanon.

The project objective is to increase financing by BLOM Bank of projects for energy efficiency, renewable energy, and resource efficiency in Lebanon t

 

 

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

BLOM Bank is the second-largest bank in Lebanon with assets of USD 38.4bn at June 2019.

Contact Information

Sarah Naamani
sarah.naamani@blom.com.lb
+961 1 729 203
+961 1 729 528
http://www.blom.com.lb
BLOM Bank s.a.l. Verdun, Beirut, Lebanon

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.