The Attijariwafa bank group has obtained the accreditation of the United Nations Green Climate Fund (GCF), as financial intermediary for the implementation of green financing in Africa .
Attijariwafa bank was officially accredited at the 22nd meeting of the Board of Directors of the Green Climate Fund held in Songdo, South Korea, on February 26, 27 and 28, 2019, after extensive due diligence by the GCF to ensure that the Group has the necessary procedures and experience to fund green projects in partnership with the institution.
Attijariwafa bank thus becomes the only commercial bank in Africa and the MENA region, as well as the 7th largest commercial bank in the world to obtain this accreditation with regional coverage.
Accreditation marks an important step in the CSR approach and support for the energy transition for Attijariwafa bank, and will allow the bank to work in partnership with the Fund to support its public and private clients in their sustainable development projects. African continent, through co-financing or large-scale, high-impact investment guarantees that can exceed $ 250 million per project.
Access to Green Fund financing is therefore a real lever for pursuing Attijariwafa bank’s actions in the field of Climate Finance and strengthening its position as a leading pan-African bank in supporting the continent’s economic and social development.
United Nations Green Climate Fund
The United Nations Green Climate Fund (GCF), the United Nations Green Climate Fund, is a global fund established by the 194 signatories to the United Nations Framework Convention on Climate Change (UNFCCC) in 2010. The goal is to transfer funds from the most advanced countries to the most vulnerable countries in order to put in place projects to combat the effects of climate change.
With a global budget of 100 billion dollars a year by 2020, the GCF is the largest fund in the world dedicated to climate action. The total number of accredited entities to date is 75 banks and financial institutions, development institutions and public bodies worldwide.