GCF GEFF Regional - Morocco Value Chain - BCP (EBRD-51002)

Countries
  • Morocco
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 11, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Banque Centrale Populaire
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Technical Cooperation
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.31 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 22,500,000.00
Converted using 2019-07-11 exchange rate.
Project Cost (USD)
$ 33.75 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 30,000,000.00
Converted using 2019-07-11 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 2, 2020

Disclosed by Bank Nov 7, 2019

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

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.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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;

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Mr Mir Abdelkrim
AMir@cpm.co.ma
+212 522 46 94 50
www.gbp.ma
Banque Centrale Populaire 101, Bd. Mohamed Zerktouni 20 100 Casablanca

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.

How it works

How it works