📋 Tender Overview
Location:
Morocco
Project number:
55649
Business sector:
Financial institutions
Notice type:
Private
Approval date:
12 Feb 2025
Status:
Exploratory
English-language PSD published:
09 Jan 2025
Project Description
Provision of a senior unsecured loan of up to EUR 35 million in favour of Banque Marocaine pour le Commerce et l'Industrie ("BMCI"), as part of a EUR 65m "GEFF +" Package (including also a EUR 30 million MidGEFF loan). Up to EUR 1.75 million is expected to be co-financed by the Green Climate Fund ("GCF") and a comprehensive incentive grants and technical assistance package will be funded by the European Union, as part of the Morocco Decarbonisation and Climate Resilience Programme ("MDCR"), as well as the GCF. The proceeds of the loan will be used by BMCI for on-lending to private companies to finance their climate change mitigation and adaptation investments in a gender-responsive way.
Project Objectives
The project will promote a green economy in Morocco by supporting private sector Moroccan MSMEs and Midcaps implementing climate change adaptation and mitigation investments in a gender-responsive way. The project will specifically target, among other things: small-scale renewable energy, energy efficiency, green buildings, circular economy, climate adaptation investments (with a particular focus on water efficiency and sustainable land management), digitalisation and blue economy investments.
Transition Impact
ETI score: 65
Transition impact is expected to derive from the Green quality under the GCF GEFF Regional - Morocco III Programme.
Green: the Framework and the proposed transactions will promote the transition to environmentally, sustainable, low-carbon and climate-resilient economy in Morocco.
Client Information
BANQUE MAROCAINE POUR LE COMMERCE ET L'INDUSTRIE (BMCI)
BMCI is a universal bank operating in Morocco since 1943.
BMCI is a 66.7% subsidiary of BNP Paribas, operating as a fully-fledged bank in Morocco. Other shareholders include AXA (8.9%), AtlantaSanad (8.4%) and a free float representing c. 16% of BMCI's shares.
EBRD Finance Summary
EUR 33,250,000.00
Total Project Cost
EUR 35,000,000.00
Additionality
The project offers a combination of (i) long-term financing, (ii) technical assistance and (iii) incentive grants to the benefit of sub-borrowers into a comprehensive package that promotes private sector investments in green, low-carbon and climate-resilient technologies and services (iv) in a gender-responsive way.
Environmental and Social Summary
Categorised FI (2019 ESP). BMCI is an existing client, and its environmental and social (E&S) performance under current exposures has been satisfactory. As a subsidiary of the BNP Paribas Group, BMCI's E&S risk management practices are aligned with EBRD requirements. BMCI has an established E&S policy and publishes its annual reports, including E&S performance, on its website. BMCI is expected to maintain its E&S
