MCB Partners with Proparco and DEG to Support Climate Finance Development

MCB has partnered with Proparco and DEG to support the development of climate finance in Mauritius. The aim is to help MCB expand its climate financing services.

A loan of $120 million has been granted by Proparco and DEG to MCB, with the goal of enabling the bank to unlock new opportunities in climate change mitigation financing.

This marks the fourth joint operation between the three companies.

MCB’s CEO, Alain Law Min, highlighted the longstanding relationship with the AFD Group and mentioned previous credit lines, including a €75 million loan in 2011 and a $150 million loan in 2018, both of which have been or will be fully repaid.

The new $120 million facility further strengthens their relationship. Michael Fischer from DEG expressed that this climate facility will significantly contribute to Mauritius’ climate neutrality goals, aligning with DEG’s climate and impact strategy.

Source: Defi Media