PROJECT

Projects

Summary of Investment Information

Project Number

44557

Company Name

ABSA BANK LTD

Date SPI Disclosed

Nov 23, 2020

Country

South Africa

Region

Africa

Projected Board Date

Jan 21, 2021

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

May 15, 2024

Department

Regional Industry - FIG ME & Africa

Industry

Financial Markets

Previous Events

Approved : Feb 22, 2021
Signed : Apr 21, 2021
Invested : Apr 28, 2021

Sector

Commercial Banking - General

Project Description

The proposed investment consists of a senior loan of up to US$150 million to Absa Bank Ltd (“Absa” or the “Bank”) (the “Project”). The Project will help Absa to further augment its climate finance business and to support green investments, including renewable energy and biomass in South Africa. The Project will be the first green loan in Africa in compliance with the internationally recognized Green Loan Principles (GLPs).

Associated Advisory Engagement

Complimentary technical assistance and knowledge sharing related to the Bank’s climate strategy and green loan/green bond framework.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation