EBRD to invest US$19m green bond for Morocco’s national railway operator

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has announced a €19.2 million (US$19.50m) investment in a green bond issue by Morocco’s national railway operator Office National des Chemins de Fer du Maroc (ONCF). The investment in a certified green bond of €95 million (US$96.50m) by the rail operator will be utilised for the refinancing of debt used…

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EBRD, CTF allocate US$54m to repower Morocco’s wind farm

MOROCCO – The European Bank for Reconstruction and Development (EBRD) and Climate Investment Fund (CTF) are providing €53.5 million (US$54.28m) to repower Africa’s oldest wind farm located in Morocco in an effort to support the country’s transition to a low-carbon economy. The wind farm mis located in Koudia Al Baida, Tlat Taghramt region near Tangier. It is expected to increase…

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EBRD partners Attijari bank Tunisia to support local pharmaceutical sector

TUNISIA – The European Bank for Reconstruction and Development (EBRD) has partnered with Attijari bank Tunisia to facilitate access to finance for Tunisian Laboratoires Teriak S.A. The collaboration underscores the EBRD and Attijari bank Tunisia’s commitment to supporting Tunisian companies through the partnership they established in 2020. It also reaffirms the importance of companies to Attijari bank Tunisia’s development strategy.…

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EBRD provides US$41.71M loan to Morocco’s Ports Agency for climate resilience

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has provided US$41.71 million loan to Moroccan Agence Nationale des Ports (ANP) for climate resilience of ports of the North African Kingdom. The loan is the first to a Moroccan state-owned entity without a sovereign guarantee. It will comprise two tranches: a US$15.64 million committed loan and US$26.07 million of…

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EBRD and investment firms take majority stake in Egypt’s GlobalCorp

EGYPT – A consortium of investors comprising Paris-based investment firm Amethis, the European Bank for Reconstruction and Development, and private equity firm SPE Capital has acquired a majority stake in Egypt’s financial services provider GlobalCorp. Established in 2015, GlobalCorp is a leading Egyptian non-bank lender with a current focus on leasing and factoring solutions for corporates and small and medium-sized…

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EBRD partners Bank Al-Maghrib to support climate risk management in Morocco

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has signed an agreement with Bank Al-Maghrib and Groupement Professionnel des Banques du Maroc (GPBM), to promote green finance and support climate and environmental risk management in Morocco. The three organizations agreed to establish “a framework of cooperation on the implementation of Directive 5/W/21 on financial risk management issued by…

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EBRD invests US$100M in Egyptian solar power green bond

EGYPT – The European Bank for Reconstruction and Development (EBRD) is investing US$100 million in a certified green bond issuance of US$334.5 million, backed by Scatec’s six solar power plants in Egypt. The Bank is also providing a US$30 million Credit Enhancement Facility (CEF) for participating institutional investors. Certified under the Climate Bonds Standard, this bond is the first private…

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EBRD launches US$180M Green Economy Financing Facility II

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has launched US$180.73 million Green Economy Financing Facility Morocco II (GEFF II). Green Economy Finance Facility Morocco II (GEFF II) is a financing line set to support sustainable energy initiatives with the support of the European Union (EU) and the UN-backed financial instrument Green Climate Fund (GCF). The GEFF II…

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IFC, African and European Partners launch Alliance to support private sector growth in Africa

AFRICA  – International Finance Corporation (IFC), African and European partners have launched Alliance for Entrepreneurship in Africa to support private sector growth in Africa. The Alliance will combine and focus the technical and financial strengths of its members to improve Africa’s business environment and support the growth and success of small and medium-sized enterprises (SMEs), women in business, and young…

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