Morocco: IFC and Proparco Invest in Pioneering Moroccan Green Bond to Boost Renewable Energy

press release

Rabat, Morocco — IFC, a member of the World Bank Group, and Proparco, a subsidiary of Agence Française de Développement (AFD) devoted to private sector financing, are investing €100 million and €35 million, respectively, in the first green bond issuance by Banque Centrale Populaire (BCP), to promote sustainable, environment friendly projects in the country.

This is the first green bond issuance in foreign currency in Morocco, as well as IFC and Proparco's first green bond investment in the region. The 10-year maturity bond will be used to provide long-term funding for BCP, one of Morocco's largest banking groups, to refinance investments in selected renewable energy projects in the Kingdom.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.