Conference of the Parties (COP28): Ecobank Transnational Incorporated Signs Its First Sustainability-Linked Loan (SLL) For US$200m With a Syndicate of European Development Finance Institutions (EDFIs) Led by Proparco

RALD NEWS MEDIA REPORT: Major Strides in Climate Action: Proparco Breaks New Ground in Africa

Ecobank Transnational Incorporated, a key player in the African banking landscape, has achieved significant milestones in climate action. Proparco, the private sector financing arm of Agence Française de Développement Group, played a crucial role in this breakthrough, as highlighted by Dörte Weidig, Managing Partner at IPC.

Distributed by APO Group on behalf of Ecobank Transnational Incorporated, the collaboration underscores a commitment to sustainable economic, social, and environmental development. Christiane Bossom, Group Communications at Ecobank, and Floriane Balac of Proparco serve as the media contacts for further inquiries.

Ecobank Group, operating in 35 sub-Saharan African countries and extending its reach to France, the UK, UAE, and China, stands as a leading pan-African banking group. With over 14,000 employees, the group provides a comprehensive range of banking products and services across multiple channels, including digital, serving a customer base exceeding 32 million.

Proparco, with over 40 years of experience, serves as the private sector financing arm of AFD Group, promoting sustainable development in Africa, Asia, Latin America, and the Middle East. The organization focuses on key sectors such as infrastructure, renewable energies, agribusiness, financial institutions, health, and education, aligning its operations with the Sustainable Development Goals.

Norfund, the Norwegian Investment Fund, and DEG, the German Development Finance Institution, have also contributed to this initiative. Norfund's mission centers on creating jobs and improving lives through investments that drive sustainable development, particularly in Sub-Saharan Africa, South-East Asia, and Central America. DEG, as a climate investor, finances and advises private enterprises in developing and emerging-market countries, contributing to job creation and local income growth.

FMO, the Dutch entrepreneurial development bank, plays a crucial role as a leading impact investor supporting sustainable private sector growth in developing countries. Focused on agribusiness, food & water, energy, and financial institutions, FMO's track record spans over 50 years, with a committed portfolio exceeding EUR ~13 billion in more than 85 countries.

IPC, based in Frankfurt, Germany, is a financial sector advisory firm dedicated to fostering inclusivity and sustainability globally. IPC's Climate Action and Green Transition practice collaborate with financial institutions, fund managers, and investors to advance climate objectives through technical assistance, transaction advisory, and analytical services.

This collaborative effort reflects a significant stride in climate action and sets the stage for further impactful initiatives in the pursuit of a more sustainable and inclusive world.