Fostering green growth in Africa
- Structured finance for responsible projects
- Projects with a positive impact in terms of access to renewable energy and drinking water
Structured finance for responsible projects
Orabank is committed to financing green growth and supporting investment in measures for adapting to climate change
Setting the standard for structured financing
The Orabank group wants to position itself as the leading bank for the structured financing or responsible large-scale projects promoting economic and social development. Our ambition is to develop our offering of specialist > €2 million financing, which requires a specific approach as regards structuring (amount, loan term, legal and financial arrangements).
In 2012, Oragroup’s first project with CIPREL (the Ivorian electricity company) was launched, whereby the bank took the lead in structuring CFA F50 billion in financing for a power plant in Côte d’Ivoire.
In 2017, the group signed an agreement with CIPREL to arrange CFA F188 billion in financing for the construction of a combined cycle gas turbine in Ivory Coast.
A line of credit has been established with the French Development Agency (AFD) to provide €4.5 million in financing for renewable energy projects, which has been topped up with an additional €1.5 million.
Supporting projects with a positive impact in terms of access to renewable energy and drinking water
Financing of green energy projects
The Orabank group takes steps to finance the green economy and supports measures to encourage green energy use. In developing countries, the financing of green growth represents a major challenge.
As a financial intermediary between economic agents, Orabank plays the role of spreading sustainable development best practice. As part of combating global warming, we help our customers – industrial, service-provider or institutional – to update their energy sources, replacing fossil fuels with clean renewables. Involvement in an environmentally friendly approach ensures a return on our investment and a considerable impact on combating global warming. We finance energy-efficiency projects with low power consumption.
In the industrial and hospitality sectors, the Orabank group steers its customers towards energy-efficient solutions, cutting power consumption by 30-40%. Our customers can then reinvest the savings on their bills in their own growth.
The AFD’s SUNREF programme
In 2014, the Orabank group and the French Development Agency (AFD) committed to a partnership for implementing the SUNREF (Sustainable Use of Natural Resources and Energy Finance) programme in West Africa.
In 2015, the AFD granted Orabank a €5 million line of credit, in the context of the SUNREF programme. This programme gives Orabank the opportunity to support its customers (companies and individuals) in the WAEMU area whose projects adopt a sustainable development approach that incorporates Effectiveness and renewable energy. With the AFD’s technical support, the Orabank group is offering financing at preferential rates to prospects and customers eligible for the programme.