Latest news with #greenfinance
Reuters
4 days ago
- Business
- Reuters
iib East Africa Celebrated with Top Global Sustainability Awards in 2025
LONDON, United Kingdom, July 19, 2025 (EZ Newswire) -- iib East Africa, opens new tab has earned international recognition for its leadership in sustainable banking, securing three prestigious awards in 2025 from Euromoney, Global Finance and World Finance. These accolades underscore iib East Africa's unwavering commitment to environmental responsibility, ethical banking practices, and inclusive economic development in the Horn of Africa. On July 18, 2025, Euromoney, opens new tab named iib East Africa Djibouti's Best Bank for ESG, opens new tab in its 2025 Awards for Excellence, reinforcing the bank's role as a catalyst for impact-driven finance in one of Africa's fastest-growing trade corridors. On January 20, 2025, Global Finance, opens new tab named iib East Africa as the Best Sustainable Bank in its 2025 Sustainable Finance Awards, opens new tab, recognizing the bank's integration of ESG principles into core operations, innovative green financing frameworks, and community-led climate initiatives. On June 23, 2025, World Finance, opens new tab awarded iib East Africa the title of Most Sustainable Bank in Djibouti, opens new tab, commending its efforts to decarbonize lending portfolios, champion SME access to sustainable finance, and fund renewable infrastructure across the region. After receiving the award, Papa Demba Diop, opens new tab, CEO iib East Africa stated, "These awards reflect our enduring commitment to creating long-term value not just for our shareholders, but for our communities and the planet. Sustainability is not a siloed function at iib - it is embedded in everything we do." Sohail Sultan, chairman of iibGroup, opens new tab, stated, 'These recognitions affirm our conviction that sustainable finance is not just responsible - it is resilient, strategic, and essential to long-term prosperity. At iibGroup, we view ESG as a fundamental pillar of stability, growth, and legacy across our markets.' Operating at the intersection of sustainable finance and responsible development, iib East Africa continues to lead the market with bold initiatives including: As the region navigates climate and development challenges, iib East Africa is redefining the role of banking in shaping a greener, more inclusive future. About iib East Africa , opens new tabiib East Africa is headquartered in Djibouti and is part of the Intercontinental Investment Bank, a purpose-driven banking group operating across key frontier markets. With a strong commitment to sustainability, ethical finance, and regional growth, iib delivers high-impact financial solutions that empower businesses, uplift communities, and preserve environmental capital. For more information, visit opens new tab. About iibGroup iibGroup is a financial holding company with operations across the GCC, South Asia, East Africa (Ethiopia–Djibouti trade corridor and surrounding regions), West Africa (based in Cape Verde and primarily serving Portuguese-speaking African countries), and the Caribbean. For more information, visit Media Contact Farah Sayeed+973 1711 ### SOURCE: iibGroup Copyright 2025 EZ Newswire See release on EZ Newswire
Yahoo
5 days ago
- Business
- Yahoo
SAHAM BANK Secures €55 Million From EBRD to Boost Green Finance in Morocco
CASABLANCA, Morocco, July 18, 2025--(BUSINESS WIRE)--SAHAM BANK has reaffirmed its commitment to green finance through a strategic partnership with the European Bank for Reconstruction and Development (EBRD), under the newly launched Green Economy Financing Facility Plus (GEFF Plus). Supported by the Green Climate Fund (GCF), the European Union (EU), and the Government of Canada (through the HIPCA fund), the initiative will mobilize €55 million in funding for SAHAM BANK. This financing will be channeled into two dedicated credit lines aimed at accelerating the green transition of Morocco's private sector. In addition to financial support, the partnership includes technical assistance funded by the EU and GCF, as part of Morocco's Decarbonisation and Climate Resilience Programme. This support will help strengthen SAHAM BANK's internal capabilities in green finance and develop banking products aligned with environmental challenges. This collaboration represents a significant milestone in SAHAM BANK's sustainable development strategy. It underscores the bank's long-term vision to foster a responsible banking model, focused on green growth and sustainable value creation for the Moroccan economy. This operation illustrates the transformation dynamic initiated by the bank following its change of ownership. Its trajectory is guided by the vision of SAHAM GROUP, chaired by Moulay Hafid Elalamy, who is also Chairman of the supervisory Board of SAHAM BANK. A prominent Moroccan economic player, combining strong local roots with an international outlook, SAHAM GROUP currently operates in high-potential sectors such as finance, customer experience, education, agriculture, and real estate. About Saham Bank Founded in 1913, Saham Bank — formerly Société Générale Marocaine de Banques (SGMB) — is one of Morocco's oldest and most respected banking institutions. Over the past century, it has played a central role in the country's economic development. Saham Bank serves a diverse clientele, including individuals, professionals, and businesses, offering a comprehensive range of financial products and services tailored to their needs. The bank remains committed to innovation, service quality, and sustainable development, while continuing to strengthen its position as a key player in the Moroccan banking sector. Source: AETOSWire View source version on Contacts Zohra MabchourSaham Bank+212522438462 / + Sign in to access your portfolio
Zawya
16-07-2025
- Business
- Zawya
Indonesia launches 5-year US dollar Islamic bond, 10-year green sukuk, term sheet shows
SINGAPORE/JAKARTA: Indonesia has launched a five-year U.S. dollar-denominated Islamic bond, or sukuk, with an initial price guidance of 4.85%, along with a 10-year green sukuk at 5.5%, according to a term sheet reviewed by Reuters on Wednesday. The document does not specify the size of the issuance, and the Indonesian government has not yet provided an official comment. The sukuk bonds are being issued by Perusahaan Penerbit SBSN Indonesia III, with the Indonesian government acting as the obligor, according to the sheet, which added that they will be listed on both the Singapore Exchange and Nasdaq Dubai. The bonds will hold credit ratings in line with the sovereign ratings of Indonesia, Southeast Asia's largest economy, at Baa2 by Moody's, BBB by S&P and BBB by Fitch. Indonesia will use the proceeds to meet part of its general financing requirements, with proceeds from the 10-year green sukuk going to finance or re-finance eligible green expenditures, according to the document. Deutsche Bank and HSBC are the joint green structuring coordinators. Bank of America, Deutsche Bank, Dubai Islamic Bank , HSBC and Mandiri Securities are the bookrunners, while BRI Danareksa Sekuritas and Trimegah Sekuritas Indonesia are the co-managers, the sheet showed. (Reporting by Yantoultra Ngui in Singapore and Stefanno Sulaiman in Jakarta; Editing by Muralikumar Anantharaman and Sherry Jacob-Phillips)
Bloomberg
15-07-2025
- Business
- Bloomberg
New Zealand Farmers Slam Proposed Green Finance Rules
New Zealand farmers have attacked proposed rules for green finance, warning they are unworkable and risk harming rural communities by driving up costs. Lobby group Federated Farmers has written to government ministers and other officials outlining its concerns about the so-called Sustainable Finance Taxonomy, which is a system for classifying economic activities according to their environmental impact. A New Zealand taxonomy is being developed for the government by the independent Centre for Sustainable Finance, which recently closed submissions on an initial consultation document.
Zawya
14-07-2025
- Business
- Zawya
UK government to make new push to cut red tape for businesses aiming to cut emissions
LONDON: British finance minister Rachel Reeves will task regulators this week with lowering barriers to businesses seeking to cut their emissions, in a major speech she is to give to the financial services sector, a government source told Reuters on Monday. Britain's Financial Conduct Authority, together with the Bank of England and the partly government-backed Green Finance Institute, will run a pilot project to assess where regulatory and other barriers exist to projects focused on enabling businesses with high carbon emissions to lower them. Reeves is expected to make the announcement at her annual Mansion House speech to London's financial sector on Tuesday, where she will speak alongside BoE Governor Andrew Bailey. In last year's speech Reeves said regulators had placed too little emphasis on supporting economic growth, one of the newly elected Labour government's main goals. Since then, growth has been lacklustre overall despite a strong first quarter, and many economists expect Reeves will have to raise taxes by tens of billions of pounds in the annual budget later this year to keep public finances on track. Faster growth would ease many of the government's political and economic difficulties and the government views green finance as having the potential to generate up to 200 billion pounds ($270 billion) in revenue for the economy. The Transition Finance Pilot will be a small part of that. A finance ministry source said it would focus on looking in detail at how climate projects are financed and working with stakeholders in the market to identify specific barriers and how regulators and other stakeholders could resolve them. The pilot project follows an external review of transition finance commissioned by the previous Conservative government which was published in October. This highlighted barriers including the riskiness of unproven carbon-reduction technologies, uncertainty about future government incentives and fears of reputational damage from projects which aim to reduce emissions rather than eliminate them entirely. ($1 = 0.7408 pounds) (Reporting by David Milliken; Additional reporting by William Schomberg)
