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COP28: Ecobank Transnational Incorporated signs its 1st Sustainability-Linked Loan for US$200m with a syndicate of EDFIs led by Proparco

ecobank proparco deg fmo norfund edfis climate finance cop28
A syndicate of European Development Finance Institutions (EDFIs) led by Proparco, and including Norfund, DEG, FMO and EFP, has announced a US$200 million Sustainability-Linked Loan to support Ecobank Group’s Sustainability and Climate strategy. This is a significant milestone as it is the first ever sustainability-linked loan to a sub-Saharan African financial institution. The facility is linked to two major climate commitments including Climate Disclosures and the definition of a Climate Strategy.

The facility also includes a Climate Action Plan. Proparco, in partnership with the German consulting firm IPC, will provide long-term advisory support to Ecobank Transnational Incorporated’s teams to achieve these ambitious targets.
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TBC and Proparco sign a EUR 100 million loan agreement

TBC-Proparco
Proparco has granted a €100 million loan to JSC TBC Bank (TBC Bank) in Georgia. The loan facility, of a maturity of seven years, will be primarily used to finance climate-related investments and female entrepreneurs in Georgia. The facility will reaffirm TBC’s leadership position in the Georgian banking sector for green and sustainable lending and contribute to inclusive economic growth in the country.
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In South Africa, Proparco supports Investec in its climate finance strategy

south africa climate finance green climate fund TFSC investec proparco
At COP28, Proparco announced a renewed commitment to Investec, a leading South African bank committed to sustainability, by granting it a €500,000 euro technical advisory facility. This new agreement, signed a few months after Proparco provided Investec with an $80 million loan to support its climate investments, marks AFD Group's determination to continue implementing the Transforming Financial Systems for Climate (TFSC) programme in South Africa.
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