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Signature(s)

Amount
€ 6,500,000
Countries
Sector(s)
Morocco : € 6,500,000
Services : € 6,500,000
Signature date(s)
5/12/2008 : € 6,500,000
Link to source

Summary sheet

Release date
17 November 2008
Status
Reference
Signed | 05/12/2008
20080347
Project name
Promoter - financial intermediary
Fonds Capital Carbone Maroc

Morocco's Caisse de Dépôt et de Gestion (CDG)

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
The amount of the Bank’s investment will not exceed the equivalent of EUR 6.5m or, if this amount is lower, 25% of the Fund’s capital.
The Fund will have a minimum capital of EUR 18m at the first closing. The promoters' target size is EUR 26m.
Location
Sector(s)
Description
Objectives

The operation consists of the Bank's acquisition of an equity participation with EU budgetary resources (risk capital managed by the Bank under Regulation 1638/2006 of 24 October 2006) in a newly-created carbon fund.

The objective of this Fund is to support investment in clean technology projects in Morocco through the purchase of carbon credits.

Environmental aspects
Procurement

This project will promote (i) the global market in greenhouse gas reductions, (ii) the use of the Clean Development Mechanism in Morocco and the region, and (iii) investment in key sectors in Morocco such as renewable energy, landfill management and energy efficiency.

Not applicable.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

News & Stories

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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