Corporate
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
30 June 2017
BCP has now completed the issuance of that green bond – Morocco’s first – with International Finance Corporation (IFC), a member of the World Bank Group, and Proparco, a subsidiary of Agence Française de Développement devoted to private sector financing, having invested €100m and €35m respectively.
GIB’s report concluded that the projects refinanced by the bond are expected to help save 938,000 tonnes of CO2 emissions equivalent per year on average – the equivalent of 17.36 million tonnes of CO2 in greenhouse gas savings over the remaining lifetimes of the projects.
The report also outlined GIB’s assessment of the air pollutant emissions and fossil fuel consumption expected to be avoided by those projects. It notes that the bond will contribute to environmental sustainability objectives that are the cornerstone requirement of the Green Bond Principles and that the bond issuance and projects will contribute to five of the UN Sustainable Development Goals.
Evelyn Hartwick
Senior Financial Officer, IFC
Gavin Templeton
Head of Sustainable Finance, GIB
The Green Impact Report is available here.
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About Banque Centrale Populaire
Banque Centrale Populaire SA is a Morocco-based bank engaged in the provision of financial products and services. Its portfolio includes accounts, cards, credit facilities, insurances and investment management, among others. Its products are targeted at individuals, professionals and businesses.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY16, we delivered a record $19 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity.
About Proparco
Proparco is a subsidiary of Agence Française de Développement (AFD) focused on private sector development. It has been promoting sustainable economic, social and environmental development practices for 40 years. Proparco provides funding and support to both businesses and financial institutions across Africa, Asia, Latin America and the Middle-East. It seeks to partner projects in key development sectors – infrastructure (with a specific focus on renewable energies), agribusiness, financial institutions, healthcare and education, etc. – and to boost the contribution of the private sector to achieving the sustainable development goals adopted by the international community in 2015. As a means to this end, Proparco finances businesses that are instrumental in creating decent jobs that pay decent wages, in supplying essential goods and services and in battling climate change.