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Company & Organisation News - 16/11/2016

Vigeo Eiris, second party opinion for the first CBI certified Moroccan green bond

Masen, a central player committed to making optimal use of renewable resources in Morocco, realised the first green issuance certified by the Climate Bond Initiative in Morocco

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For an amount of 1.15 billion of dirhams (106 M€) this transaction aims at contributing to the financing of solar projects of Noor Laayoune, Noor Boujdour and Noor Ouarzazate IV. Aligned with the objectives defined by the Moroccan Government to reach a 52% capacity of the energy mix coming from renewable sources by 2030, this issuance benefits from the State guaranty and places Masen amongst the pioneers of Green Finance in Morocco.

Through this issuance Vigeo Eiris has evaluated and provided an opinion on the environmental and social purposes as well as the social management of this bond, aligned with the “Green Bonds Principles” and, as a CBI verifier, did a compliance assessment report based on CBI standards, allowing Masen to receive the Climate Bond certification for its issuance (Climate Bond Initiative).

Keywords : Environment, Green bonds, Morocco