Latest news with #Proparco
African Manager
13-05-2025
- Business
- African Manager
Tunisia: UBCI becomes first Tunisian bank to join Proparco's trade finance program
Proparco, the private sector financing arm of the French Development Group (AFD), has expanded its support for international trade in North Africa by welcoming Union Bancaire pour le Commerce et l'Industrie (UBCI) into its Trade Finance program as an issuing bank. This partnership enables UBCI to broaden its services for clients and strengthen its trade finance lines with international correspondent banks, further supporting the growth of Tunisian businesses. Proparco and UBCI formalized their collaboration with the signing of a €30 million Trade Finance guarantee facility in Tunis on May 12. The signing ceremony, attended by H.E. Anne Guéguen, Ambassador of France to Tunisia, reinforces the long-standing partnership between the two institutions. This agreement will help secure international transactions for Tunisian companies, promoting value creation and economic growth. Amid constrained financing conditions, UBCI plays a pivotal role in Tunisia's Trade Finance sector. By joining Proparco's network, UBCI will enhance its ability to support large corporations, SMEs, and small businesses, particularly in strategic sectors like agribusiness, manufacturing, and distribution, by providing the necessary tools to safeguard their cross-border operations. Mohamed Koubaa, CEO of UBCI, stated: 'Joining Proparco's Trade Finance program reaffirms UBCI's commitment to supporting Tunisia's economy and the internationalization of its businesses. This strategic partnership will allow us to better assist our clients in meeting their trade finance needs, reinforcing our role as a key player in Tunisia's sustainable economic development.' 'Proparco is delighted to deepen its historic partnership with UBCI, the first Tunisian bank to join our Trade Finance program. This initiative will empower local businesses to import essential goods, driving value-added production and meeting the needs of Tunisia's economic ecosystem and SMEs,' Frédérique Masi, Proparco's Regional Director for North Africa, pointed out.
The Star
01-05-2025
- Business
- The Star
Indonesia secures US$60mil for solar project
The plant is slated to begin operations in 2026. JAKARTA: Standard Chartered, Germany's development finance institution DEG and France's Proparco have announced a US$60mil investment to fund the construction and operation of a solar photovoltaic (PV) plant in Indonesia. The 92 megawatt-peak Saguling floating solar PV plant, to be located in West Java, will be run by Saudi Arabia's ACWA Power and state-owned electricity company PLN's subsidiary PLN Indonesia Power. The plant is slated to begin operations in 2026. Once operational, it is expected to offset more than 63,000 tonnes of carbon emissions annually, according to a statement issued on Tuesday by the Glasgow Financial Alliance for Net Zero (GFANZ), of which Standard Chartered is a member. The project, part of Indonesia's Just Energy Transition Partnership (JETP), marks the first project-level financing deal since the United States formally withdrew from the initiative earlier this year. The US commitment in Indonesia is greater than US$2bil, made up of non-concessional loans, multilateral development bank guarantees and grants. Coordinating Economic Minister Airlangga Hartarto said that the Saguling project symbolised global collaboration: 'It represents our joint commitment to accelerate the clean energy transition and support inclusive, sustainable growth.' French Ambassador to Indonesia, Asean and Timor-Leste Fabien Penone said France had committed more than €450mil or about US$513mil to support Indonesia's energy transition under the JETP. 'The financing by the French development finance institution Proparco of the Saguling floating solar PV plant highlights our commitment to foster innovative renewable energies in Indonesia and to support its sustainable economic growth,' he said in the same statement. Initially, Indonesia was banking on the US$21.6bil in JETP pledges to transition from coal to cleaner energy. Roughly half of that funding, or US$11.6bil, is supposed to be raised from the public sector, particularly from the International Partners Group (IPG) members as donor nations, namely Canada, Denmark, France, Germany, Italy, Japan, Norway, Britain and the European Union. Washington had pledged to contribute over 20% of those public funds, the largest among all IPG members, but has since pulled out of JETP Indonesia. The rest of the JETP pledges are to be provided by the private sector under the coordination of GFANZ, consisting of Bank of America, Citi, Deutsche Bank, HSBC, Macquarie, MUFG and Standard Chartered. Indonesia is pinning its hopes on Germany and Japan, the new JETP coleaders, to revive the flailing initiative and accelerate the country's shift from fossil fuels to renewable energy. German Ambassador Ina Lepel in the same statement on Tuesday said the agreement highlighted growing collaboration between the International Partners Group and GFANZ, marking 'a new phase' where JETP projects were mature enough to secure investment contracts. Indonesia requires large sums of funding, especially grants for non-bankable projects like the early retirement of coal-fired power plants and for the development of green electricity. — The Jakarta Post/ANN
Yahoo
18-02-2025
- Business
- Yahoo
Ecoener secures $43.1m loan from Proparco to develop Payita 1 solar project
Renewable energy company Ecoener has secured a $43.1m loan from Proparco, the French Development Finance Institution and a subsidiary of the Agence Française de Développement Group (AFD Group). The funds will be dispensed to support Ecoener's renewable energy operations in the Dominican Republic including the Payita 1 solar photovoltaic (PV) plant. The 60MW Payita 1 facility is located in the province of María Trinidad Sánchez in the northern Dominican Republic. The project adheres to the International Finance Corporation's (IFC) 'stringent' sustainability performance standards. These guidelines ensure the project's sustainability by identifying environmental and social impacts, risks, and opportunities while also guaranteeing proper management and mitigation. Proparco has also evaluated the quality of construction and technology used by Ecoener in the project. Proparco Asia and Latin America head of power and digital Anne Gautier said: 'Proparco is pleased to enter into a partnership with Ecoener, a leading European player in the field of renewable energy. 'The development of this solar photovoltaic power plant in the Dominican Republic meets the government's ambitious goal of increasing the share of electricity production from renewable energy in the country while improving access to clean, reliable and affordable electricity for Dominicans.' The solar plant is supported by $142m in secured revenue over the next 15 years. This will be realised through a long-term power purchase agreement (PPA) with Edenorte, an energy sale and distribution company in the Dominican Republic. The financing from Proparco will enable Ecoener to strengthen its financial base with a new long-term loan. Ecoener chairman Luis de Valdivia said: 'We would like to thank Proparco for their trust in us. It shows Ecoener's capacity to develop fully sustainable projects that meet the highest international social and environmental standards.' The Dominican Republic is set to become Ecoener's primary market with Payita 1 and 2, and Cumayasa 4 PV solar plants starting operations this year, adding to the two plants that are already operational. The total installed capacity of the facilities will reach nearly 280MW. Payita 1 is expected to produce 118.4GWh, which is equivalent to the consumption required by 29,600 households. The clean energy generated will prevent 64,173tpa in CO₂ emissions and reduce 10,182tpa of consumed fossil fuels. "Ecoener secures $43.1m loan from Proparco to develop Payita 1 solar project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Jordan News
30-01-2025
- Business
- Jordan News
Orange Digital Centers and Proparco Celebrate Coding Academy Graduation and Host Tech Career Day - Jordan News
Orange Jordan has celebrated the graduation of a new cohort of 'Heroes of Change' from the Coding Academy, implemented under the umbrella of Orange Digital Centers (ODC). This is part of a project launched in collaboration with Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group). اضافة اعلان The project aimed to empower youth in four Jordanian governorates—Zarqa, Irbid, Aqaba, and Balqa—with the aim of expanding their digital horizons and enhancing their technical skills to align with the needs of the rapidly growing job market. The two parties organized an event that included the graduation of more than 120 students as part of the first cohort of the project. Proparco provided financial support of €1 million to enhance the activities of the Coding Academies in various governorates, further supporting efforts to realize the vision of digital inclusion across the Kingdom. The CEO of Orange Jordan, Philippe Mansour, expressed his appreciation for this important partnership with Proparco. In its first phase, the initiative contributed to enabling more youth to start their journey by connecting them with the leading companies in the sector through the job fair Mansour added that Orange looks forward to graduate more youth with digital competencies in the upcoming phases, which will enhance the sector with exceptional talents. He also extended his gratitude to the Agence Française de Développement Group, companies in the ICT sector, as well as other partners for their role in the success of this event . From his side, Sebastien Fleury, Regional Director for Proparco in the Middle East, underlined the fruitful partnership between Orange and Proparco. Vocational training and innovation programs, such as the one proposed by Orange, are key to ensuring access to employment for the youth. It helps to fill up the gap between the need of the market and the local competences available. As for Proparco, job creation is one of the pillar of its strategy, supporting the Orange Coding Academy is obvious. It is worth noting that the event also included a job fair in partnership with several ICT companies. Participants were introduced to the available vacancies in the sector and were able to present their resumes, boosting their chances of finding jobs that match their skills and aspirations. To learn more, please visit our website .
Al Anbat News
29-01-2025
- Business
- Al Anbat News
Orange Digital Centers and Proparco Celebrate Coding Academy Graduation and Host Tech Career Day
الأنباط - Orange Digital Centers and Proparco Celebrate Coding Academy Graduation and Host Tech Career Day Orange Jordan has celebrated the graduation of a new cohort of "Heroes of Change' from the Coding Academy, implemented under the umbrella of Orange Digital Centers (ODC). This is part of a project launched in collaboration with Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group). The project aimed to empower youth in four Jordanian governorates—Zarqa, Irbid, Aqaba, and Balqa—with the aim of expanding their digital horizons and enhancing their technical skills to align with the needs of the rapidly growing job market. The two parties organized an event that included the graduation of more than 120 students as part of the first cohort of the project. Proparco provided financial support of €1 million to enhance the activities of the Coding Academies in various governorates, further supporting efforts to realize the vision of digital inclusion across the Kingdom. The CEO of Orange Jordan, Philippe Mansour, expressed his appreciation for this important partnership with Proparco. In its first phase, the initiative contributed to enabling more youth to start their journey by connecting them with the leading companies in the sector through the job fair. Mansour added that Orange looks forward to graduate more youth with digital competencies in the upcoming phases, which will enhance the sector with exceptional talents. He also extended his gratitude to the Agence Française de Développement Group, companies in the ICT sector, as well as other partners for their role in the success of this event. From his side, Sebastien Fleury, Regional Director for Proparco in the Middle East, underlined the fruitful partnership between Orange and Proparco. Vocational training and innovation programs, such as the one proposed by Orange, are key to ensuring access to employment for the youth. It helps to fill up the gap between the need of the market and the local competences available. As for Proparco, job creation is one of the pillar of its strategy, supporting the Orange Coding Academy is obvious. It is worth noting that the event also included a job fair in partnership with several ICT companies. Participants were introduced to the available vacancies in the sector and were able to present their resumes, boosting their chances of finding jobs that match their skills and aspirations. To learn more, please visit our website - End - About Orange Jordan Orange Jordan is one of the subsidiaries of Orange Global Group, which is present in 26 countries around the world. Orange Jordan operates in line with the Group's strategy "Lead the Future', and through its positioning as a Responsible Digital Leader, it supports the national digital transformation vision. Orange Jordan prioritizes community service, and in this context, it implements a comprehensive CSR strategy that revolves around 4 pillars including digital education, digital inclusion, entrepreneurship, climate, and environment. Orange Jordan, with more than 1600 employees in 301 shops and locations across Jordan, strives to provide the best customer experience through an integrated set of digital solutions including fixed, mobile, internet, data, and Smart Life Solutions to around 4.1 million customers in Jordan. Orange Jordan's solutions are comprehensive as they serve businesses in addition to individuals under its sub-brand Orange Business. Orange Jordan inspires by its values namely transparency, agility, results-oriented, customer centricity, collaboration, caring, and excellence. To learn more about us, please visit our website: About Orange Orange is one of the world's leading telecommunications operators with revenues of 39.7 billion euros in 2023 and 128,000 employees worldwide until 30 September 2024, including 71,000 employees in France. The Group has a total customer base of 292 million worldwide until 30 September 2024, including 253 million mobile customers and 22 million fixed broadband customers. These figures have been restated to account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present in 26 countries (including non-consolidated countries). Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan "Lead the Future", built on a new business model and guided by responsibility and efficiency. "Lead the Future" capitalizes on network excellence to reinforce Orange's leadership in service quality. Orange is listed on Euronext Paris (symbol ORA).
