MCB launches its Sustainable Loan

Post date

Feb 24, 2023

Green Sustainable Financing pencils MCB Group

Since its creation, almost 185 years ago, MCB has always contributed to the development of Mauritius, by supporting entrepreneurship and innovation. Buoyed by its rich history and awareness of the environmental and social issues of Mauritius, MCB aims at becoming a major player in the movement towards a more sustainable economy in the country and in the region.

MCB has strengthened its sustainable financing offer, while backing this transition and contributing to the country’s resilience in the face of climate change. With its Sustainable Loan offer, MCB customers are provided with solutions that contribute towards a lower carbon economy.
 
MCB has launched its new Sustainable Loan on 23 February. This loan offer, intended for large companies as well as local SMEs, aims to inspire them and support them financially in their transition to a low carbon business model, and focus more on the environment.
 
MCB’s Sustainable Loan is accompanied by advantageous conditions for eligible companies. The preferential rate amounts to the Prime Lending Rate -1 % (the PLR is currently 6.75 %). The loan also includes a flexible financing structure, a repayment period of up to 15 years, as well as tailor-made support.
 
Several categories of projects are eligible by this new type of financing:
- The energy transition, in particular, the production of electricity from renewable sources or the purchase of less energy-consuming equipment and low carbon technologies
- Prevention and control of pollution, in particular, control of emissions, waste management, or circular economy
- Responsible management of living natural resources and land use, in particular, intelligent agriculture, aquaculture and reforestation
- LEED, Edge or Breeam-certified green buildings, among others, or according to these criteria
- Infrastructure to promote the use of electric or hybrid vehicles, as well as business encouragement programs
- Infrastructure, adequate IT programs and equipment to better inform the population about potential climatic risks
- The sustainable management of water and wastewater for the purposes of conservation and reuse, in particular the treatment of wastewater, as well as the collection of rainwater
- Eco-effective and/or circular economy products including production, technology and processes. This includes local environmentally friendly products.