corporate_banner_en

A Boost for Climate Action: FMO and EIB support solid waste management in Morocco

The blog
Press corner
All press releases
All other news
Press contacts
Events
All events
Business events
Institutional events
Newsletter
Publications
All publications
General
Reports
Information
Human resources
Strategies & procedures
Thematic
Geographical
Technical studies
Ex-post evaluation
Capital markets
Economic research
Ordering a publication
The historical archives of the EIB
EFSI Scoreboards
Help
Search criteria - General principles
How to search in the register
Result page
Latest documents
Basic search
Public register
Latest documents
Basic search
Frequently asked questions
Help
Search criteria - General principles
How to search in the register
Result page
Request a document
Other public registers
Picture library
News in pictures
Management Committee's Photos
Werner Hoyer
Dario Scannapieco
Jonathan Taylor
Ambroise Fayolle
Andrew McDowell
Vazil Hudák
Alexander Stubb
Emma Navarro
The EIB services
Building
Archives
Former Presidents
Former Vice-presidents
from left to right: Mustafa Abdel-Wadood, CEO,Abraaj Capital Limited, Philippe de Fontaine Vive Curtaz,Vice President, EIB and H.E. Eng. Yarub Qudah, CEO of JEDCO
Greater Manchester Metrolink extension
Mr Olaf Scholz, Mayor of Hamburg
Fritz Vahrenholt, Chief Executive Officer, RWE Innogy GmbH, Germany, Karina Veum, Senior Researcher, Energy Research Centre of the Netherlands, Alistair Buchanan, Group Chief Executive, OFGEM, UK regulator of gas and electricity markets and Frauke Thies, EU Energy Policy Coordinator, Greenpeace
Mr Matthias Kollatz-Ahnen, Vice-President of the EIB
from left to right:Jörg Vogt, CFO, Trianel, Germany (Project: Borkum West II Offshore Wind Park), Pierre Lestienne, CFO, C-Power, Belgium (Project: C-Power near Ostend) and Georg Friedrichs, Vice-President, Head of Offshore Wind Projects, Vattenfall, Germany (Project: Thanet Offshore Wind Farm)
from left to right: Mr Kevin Smith, Director Wind Energy, Det Norske Veritas, Norway, Mr Frank V.Nielsen; Chief Technology Officer, LM Wind Power, Denmark and Mr Konstantin Staschus, Secretary General, European Network of Transmission System Operations for Electricity (ENTSO-E)
from left to right: Mr Rober Harrabin, Environmental Analyst, BBC and Mr Hans-Jörg Bullinger, President, Fraunhofer-Gesellschaft of Germany
Mr Paulo Roberto de Oliveira Araujo, Head of Department, BNDES International Division, Mr F. de Paula Coelho, Director of the ALA Department of the EIB and Mr Christophe Nègre, Deputy Head of Division, Legal Department of the EIB
From left to right: Mr. de Paula Coelho, Director of the Asia Latin America Department and Mr Paulo Roberto de Oliveira Araujo, Head of Department, BNDES International Division
From left to right: Mr. de Paula Coelho, Director of the Asia Latin America Department of the EIB and Mr Paulo Roberto de Oliveira Araujo, Head of Department, BNDES International Division
Mr Paulo Roberto de Oliveira Araujo, Head of Department, BNDES International Division
Group picture of the signature Brazil Climate Change Mitigation
Picture of all the participants at the signature EFL loan for SMEs and Mid-Caps III
FROM LEFT TO RIGHT: Mr ANDRZEJ KRZEMINSKI President of the Management Board- EFL and Mrs FÜRSTENBERG-LUCIUS, Director EIB
FROM LEFT TO RIGHT: Mr ANDRZEJ KRZEMINSKI President of the Management Board- EFL and Mr Mariusz KOLWAS, Vice-President of the Management Board - EFL
FROM LEFT TO RIGHT: Mr Andrzej KRZEMINSKI President of the Management Board- EFL Mrs Anita FÜRSTENBERG-LUCIUS, Director EIB Mr Anton ROP, Vice-President of the EIB
FROM LEFT TO RIGHT: Mr Andrzej KRZEMINSKI President of the Management Board- EFL Mrs Anita FÜRSTENBERG-LUCIUS, Director EIB, Mr Anton ROP, Vice-President of the EIB
FROM LEFT TO RIGHT: Mr Andrzej KRZEMINSKI President of the Management Board- EFL Mrs Anita FÜRSTENBERG-LUCIUS, Director EIB Mr Anton ROP, Vice-President of the EIB
FROM LEFT TO RIGHT: Mr Zygmunti TRYBKA, Director of the Financing Department EFL and Mr Piotr KOZIOL, Director of the Legal Department EFL
Group picture of the signature EFL Loan for SMEs and Mid-Caps III
from left to right:Mrs Flavia Palanza, Associate Director for Central and Eastern Africa, EIB, Mr. Jack Nkusi Kayonga, Chief Executive Officer of the Rwanda Development Bank and Mr Patrick Walsh, Director responsible for Africa, Caribbean and Pacific operations.
from left to right: Mr. Jack Nkusi KAYONGA, Chief Executive Officer of the Rwanda Development Bank and Mr Patrick Walsh, Director of the Central and Eastern Africa, Pacific Department of the EIB
Mr. Jack Nkusi KAYONGA, Chief Executive Officer of the Rwanda Development Bank
from left to right:Mrs Flavia Palanza, Associate Director for Central and Eastern Africa, EIB, Mr. Jack Nkusi Kayonga, Chief Executive Officer of the Rwanda Development Bank and Mr Patrick Walsh, Director responsible for Africa, Caribbean and Pacific operations.
from left to right:Mrs Flavia Palanza, Associate Director for Central and Eastern Africa, EIB, Mr. Jack Nkusi Kayonga, Chief Executive Officer of the Rwanda Development Bank and Mr Patrick Walsh, Director responsible for Africa, Caribbean and Pacific operations.
J.A.Mannai, Président du Fonds Monétaire Arabe; P.Maystadt, Président de la BEI; A.M.Ali Al-Madani, Président de la Banque Islamique de Développement; F.Baroin, Ministre de l'Economie, des Finances et de l'Industrie; D.Kaberuka, Président de la Banque Africaine de Développement; C.Lagarde, directrice générale du FMI
Photo de la signature
Photo de groupe de la signature
from left to right: Founders and biggest investors:
From left to right: all investors+Fund Manager:
Mr Anton Rop, Vice President of the European Investment Bank
de gauche à droite: M. Othman Ben Arfa, PDG de la STEG, M. Philippe de Fontaine Vive, Vice-président de la BEI et M. Mohamed Nouri Jouini, Ministre du Développement et de la Coopération Internationale
de gauche à droite: M. Othman Ben Arfa, PDG de la STEG et M. Philippe de Fontaine Vive, Vice-président de la BEI
de gauche à droite: M. Othman Ben Arfa, PDG de la Société Tunisienne de l'Electricité et du Gaz , M. Philippe de Fontaine Vive, Vice-président de la BEI et M. Mohamed Nouri Jouini, Ministre du Développement et de la Coopération Internationale
De gauche à droite:
Closing Ceremony Rural Impulse Fund II SA, SICAV-SIF; Luxembourg 1st June 2010
Closing
de gauche à droite: M.Carlos Da Silva Costa ,Vice Président de la BEI et M. Valls i Riera, Président de l'Autoridad Portuaria de Barcelona.
de gauche à droite: Carlos da Silva Costa, vice-président de la BEI et Ignacio Galán, Président d'Iberdrola
M. Philippe Maystadt, Président de la BEI, S.E.M. Premier Ministre de la Serbie et M. Dario Scannapieco, Vice-Président de la BEI à la signature de contrats
M. Philippe Maystadt, Président de la BEI et S.E.M. Mirko CVETKOVIC, Premier Ministre de la République de Serbie à la signature du livre d'or
Mr. I Dalianis, Financial Manager of Symetal ,Mr. K Kontos, General Manager of Symetal , Mr P Sakellaris Vice President of the EIB, Mr. D Kyriakopoulos, Executive Vice President of Elval and Mr. L Varouchas, General Manager of Elval
Mr P.Sakellaris, Vice President of the EIB and Mr D. Kyriakopoulos, Executive Vice President of Elval
Mr P. Sakellaris, Vice President of the EIB and Mr D.Kyriakopoulos, Executive Vice President of Elval
Press conference in Athens today, Mr Plutarchos Sakellaris, Vice President of the EIB
Press conference in Athens today, Mr Plutarchos Sakellaris, Vice President of the EIB
Press conference in Athens today, Mr Plutarchos Sakellaris, Vice President of the EIB
Press conference in Athens today, Mr Plutarchos Sakellaris, Vice President of the EIB
The Marseille Center for Mediterranean Integration is launched today
Le Centre de Marseille pour l’Intégration en Méditerranée est inauguré aujourd’hui
Photos
Session on "Modelling Cities and Urban Dynamics" hosted by the EIB-University Action Programme
Projects
Video library
All videos
Podcasts
Open learning
Contact

A Boost for Climate Action: FMO and EIB support solid waste management in Morocco

    •  Display in:
    • de
    • en
    • fr
  • Available in: de en fr
  •  Release date: 15 November 2016
  •  Reference: 2016-286-EN

Signed at the margins of COP22 in Marrakech today, the Dutch development bank (“FMO”) and the European Investment Bank (“EIB”) have closed a facility for Banque Marocaine du Commerce Extérieur (“BMCE”), a universal bank in Morocco. BMCE has established a reputation as a leader in Morocco and is known for its pioneering initiatives in the field of sustainable finance. Through its 75% shareholding in Bank of Africa Group, BMCE has a banking network in 18 countries in Sub Saharan Africa.

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. In response to these challenges, the Moroccan government developed the National Solid Waste Program (PNDM), which aims to upgrade the management of municipal solid waste. With the proposed facility for BMCE, FMO and EIB will support the PNDM objectives and targets, which include, among others, ensuring household waste collection rates of 100% by 2030 and rehabilitating or closing all existing disposal sites by 2020.

The facility consists of: 

  • a term loan facility of EUR 20 million to fund the pre-identified solid waste management projects. The loan facility is provided in partnership between FMO and EIB, with both institutions providing a EUR 10 million loan.
  • a comprehensive Technical Assistance package that include both sectoral studies on waste management as well as expert studies for the pre-identified projects. The package also facilitates a mission of BMCE, its waste management clients and Moroccan regulators to The Netherlands to get introduced to best international waste management practices. The Technical Assistance program will be provided by FMO.

As part of the proposed facility, BMCE has identified a number of projects which will be carried out by specialist companies in the management of solid waste for the creation of disposal and treatment facilities in several Moroccan cities. The new waste management facilities enable, among others, increased recycling and energy generation from landfill gas, and will have positive impacts on environment and climate.

Mickael Koehler, Director General of the European Commission's Neighbourhood Policy Directorate said : "This investment from the EIB is very much in line with the priorities of the European Union in Morocco as concerns the development of a market economy favouring investment and enterprise both at the national and international level. The European Commission is also ready to launch its Green Growth and Competitiveness Programme worth more than one billion  Dirhams (EUR 105 million) to underpin economic reform and projects to support the competitiveness of micro-small and medium sized enterprises  in Morocco and green growth in the country.” 

Jurgen Rigterink, CEO of FMO said: “FMO is very proud to be a partner in this facility as 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. We look forward to maintain our close cooperation with BMCE to support similar initiatives in the Bank of Africa group. The constructive and efficient cooperation with the EIB in this transaction is another highlight that bodes well for closer successful cooperation between our institutions in the future”.

Brahim Benjelloun – Touimi, Group Managing Director of BMCE Bank of Africa and Chairman of Bank of Africa said: "BMCE Bank of Africa's innovative green facility in partnership with FMO - global Sustainable Finance leader, and EIB represents our continued engagement to support Sustainable and Inclusive Finance in Morocco over the last 15 years. This green facility is aligned with Morocco's National Sustainable Development Strategy and contributes towards the financing of a circular economy in Morocco, with a vision of developing similar partnerships in the African continent through Bank of Africa.  We hope that this green loan facility will further herald a new way for businesses to Reduce, Reuse and Recycle.” 

Marion Hoenicke (Head of SME Lending, European Investment Bank) said :  “I am delighted that the European Investment bank as a leading international climate action financier is supporting this green financial line. This is a strong signal in support of our strategic climate action in the Mediterranean partner countries. Morocco - a country on the cutting edge of climate investment – is one of the EIB's key partners : since 2011, 28% of the EIB's investments in Morocco have been dedicated to climate action, representing climate investment of around EUR 500m against total financing of EUR 1.7bn. Our objective is to finance sound, concrete and scalable projects to develop a sustainable green economy while mobilizing private investment via specific and innovative financial tools.”






 Print
 Pdf
 Short Link