Ecobank signs $200 million sustainability-linked loan agreement
Summary
Ecobank said the loan is a significant milestone as it is the first ever sustainability-linked loan to a sub-Saharan African financial institution.
A syndicate of European development finance institutions led by Proparco, and including Norfund, DEG, FMO and EFP, has announced a $200 million sustainability-linked loan to support Ecobank Group’s sustainability and climate strategy.
Ecobank said the loan 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: a climate disclosure report to communicate on Ecobank’s green lending, exposure to carbon-intensive sectors, and exposure to physical climate risks; the other being 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 (ETI) teams to achieve the ambitious targets of the action plan.
ETI is the Lomé-based parent company of the Ecobank Group, which oversees 33 banking subsidiaries across the African continent. It is a key actor in the sub-Saharan Africa banking sector, with significant product offerings for SMEs and delivery of market-leading financial services on the continent including in its fragile economies.
Related
-
Sustainability linked loans and the prospects for Nigerian businesses
There have been globally accepted principles promulgated over the years by collaborative efforts for sustainable finance.
-
Global investor calls for standardised rules against ‘greenwashing’
ESG-compliant investment decision is the hottest investment megatrend and this is set to grow.
-
Sidi Ould Tah assumes office as 9th President of AfDB
Dr. Ould Tah, 60, who hails from the Islamic Republic of Mauritania, was elected on 29 May 2025 with over 76% of ...
Sustainable Development Section Sponsor
-
Access Bank Plc ...Financing the future
Most Popular
