BANQUE MAROCAINE DU COMMERCE EXTERI
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
BMCE Bank of Africa is a leading pan-African financial services group. It is a universal bank with a highly diversified range of operations including retail banking, commercial banking, investment banking and specialised financial services, such as leasing, factoring, consumer credit and debt recovery. The Group, which employs more than 13,000 employees, serves today more than 5.5 million customers through more than 2,300 points of sale in some thirty countries. http://www.notremondeestcapital.com/
What is our funding objective?
The facility is dedicated to support BMCE’s initiatives towards improvement of solid waste management practices and standards, one of the major environmental challenges in Morocco. Management of municipal solid waste is lacking proper infrastructure and suitable funding in areas outside of major cities.
Why do we fund this investment?
It signifies the first Green Finance transaction that FMO provides to a bank in Africa. Given the pioneering role of Morocco in the area of Sustainable Finance initiatives and the leading role of BMCE Bank of Africa, we are optimistic about the positive demonstration effect of the transaction for Africa.
More investments
| Date | Total FMO financing |
|---|---|
| 10/27/2021 | EUR 0.11 MLN |
- Region
- Africa
- Country
- Morocco
- Sector
- Financial Institutions
- Effective date
- 11/15/2016
- End date
- 12/29/2020
- Total FMO financing
- EUR 10.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A