CIMAF Green Loan

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   The Omnium des Industries et de la Promotion (OIP) Group (“the Sponsor” or the “Group”) is one of Africa’s leading cement companies. The Group’s main divisions include: Ciments de l'Atlas (CIMAT) - the Group’s oldest subsidiary which operates the Group’s cement operations in Morocco; and several subsidiaries under the Ciments de l'Afrique (“CIMAF”) name, which include all the Group’s operating companies (OPCOs) in Africa (other than Morocco). CIMAT operates two integrated cement plants in Morocco, while the CIMAF subsidiaries have an integrated cement plant in Senegal (under construction) and 13 grinding plants in 11 countries in West Africa.  OIP and some of the CIMAF subsidiaries have been IFC clients since 2021 (https://disclosures.ifc.org/project-detail/ESRS/42046/cimaf-west-africa). The existing investment’s E&S has been satisfactory based on IFC’s supervision to date.  In 2021, the Group began development of a new Corporate Sustainability Framework which includes a Group Decarbonization Program with the aim of achieving carbon neutrality by 2050. To support this program, IFC intends to provide a loan of up to EUR 45 million to four CIMAF subsidiaries in the form of a “green loan” to fund : (i) the development of a calcined clay quarry 60 km north-west of the existing CIMAF Bobo Dioulasso grinding plant and installation of an additional calcined clay processing line; and (ii) the construction of captive photovoltaic (PV) solar plants in the vicinity of three existing grinding facilities: CIMAF Chad - 4 Megawatts (MW); CIMAF Burkina Faso – 5 MW; and CIMAF Mali - 7 MW.