Senegal’s Largest Cement Manufacturer Gets €242m Green Loan

 In Uncategorized

The loan arranged by the International Finance Corp., will go toward replacing Sococim’s clinkers with more fuel-efficient ones and reduce its carbon emissions, the IFC, a member of the World Bank Group, says in a statement on its website.

  • The loan comprises a €120 million from IFC and €122 million local currency parallel borrowings from Societe Generale Senegal, CBAO Groupe Attijariwafa Bank, Banque Internationale Pour Le Commerce et l’Industrie du Senegal and Ecobank Sénégal
  • Société Générale Sénégal will manage the local currency financing with the other lenders
  • Financing is IFC’s first green loan for base-material manufacturing in Africa
  • Sococim is Senegal’s largest integrated cement manufacturer and a subsidiary of French cement maker Vicat S.A.

Source: Bloomberg

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search