MCB expands its sustainable finance envelope to Rs 25 billion 

MCB is reinforcing its commitment to supporting the transition toward a more resilient, inclusive, and low-carbon economy, marking a new milestone in the expansion of its sustainable financing offering. In addition to providing clients with a wide range of financing products, the banking group has increased its dedicated sustainable finance envelope from Rs 10 billion to Rs 25 billion.

This expansion of MCB’s dedicated sustainable finance envelope from Rs 10 billion to Rs 25 billion is in line with the Group’s ESG strategy and reflects its determination to support clients in their transition journeys, as well as a growing number of projects delivering positive environmental and social impacts.

In recent years, MCB has developed a broad suite of solutions aimed at financing projects that generate measurable benefits for both the environment and society. More than just financial products, these offerings are fully aligned with Success Beyond Numbers, the Group’s purpose and a guiding principle in its sustainable development approach. Through this strategy, the bank leverages finance as a positive force to build a more sustainable and inclusive future for its clients and the communities it serves.

The solutions have been designed to meet the needs of various customer segments. These include the Green Loan, aimed at individuals seeking to finance renewable energy projects or rainwater harvesting systems, and the Lokal is Beautiful Scheme, which targets small and medium-sized enterprises. The Group’s portfolio also includes the Sustainable Loan, Green Lease, Sustainability-Linked Loan (SLL), advisory services for the issuance of sustainable bonds – encouraging companies to meet defined ESG targets – and the Sustainable Trade Finance Solution, among others.

Aldo Sydonie, Head of Mauritian and Regional Corporates at MCB, said that “sustainable finance is no longer an option but a necessity. We are seeing growing demand from companies looking to invest in projects that combine economic performance with positive impact. The increase of our envelope from Rs 10 billion to Rs 25 billion reflects our confidence in Mauritius’ sustainable growth potential and our commitment to supporting businesses in this transformation journey. Our role is to be a trusted partner, offering both competitive financing solutions and tailored support to address the challenges of tomorrow.”

Vanessa Doger de Speville, Group Head of Sustainability, Reputation and Engagement at MCB, added that “we firmly believe that finance can be a powerful force for transformation. By supporting our clients in their transition, we are helping to build a more resilient, inclusive, and sustainable economy. The increase in our sustainable finance envelope reflects this ambition and is fully aligned with our Success Beyond Numbers purpose to create sustainable value for our clients, our communities, and future generations.”

A Robust Framework

To ensure consistency, transparency, and integrity in its sustainable finance activities, MCB implemented a Sustainable Finance Framework in 2024. This framework defines eligibility criteria, evaluation processes, and monitoring mechanisms for sustainable financing provided by the bank. It aligns MCB’s financing activities with international best practices and ensures that mobilized funds contribute to projects delivering tangible environmental and social outcomes.

The Sustainable Finance Framework now forms the cornerstone of the bank’s sustainable finance offering, enabling it to effectively support its clients’ sustainable development ambitions.

Consolidated Offering

With a now coherent and structured suite of solutions, MCB is further strengthening its corporate offering through a significant increase in the financing envelope dedicated to sustainable finance solutions. These include the Sustainable Loan, Sustainable Trade Finance, Sustainable Supply Chain Finance, and labelled sustainable finance instruments such as green bonds and sustainability-linked bonds.

Launched in 2023, the Sustainable Loan offers favourable terms for eligible companies. It features preferential interest rates, a flexible financing structure, repayment periods of up to 15 years, and tailored support from the Group’s team of experts.

A wide range of projects qualify for this type of financing, including green buildings, renewable energy, energy efficiency, water and wastewater management, and the circular economy. It also covers climate change mitigation and adaptation initiatives, as well as social projects such as access to healthcare and the preservation of cultural heritage.

Tangible Results

Since the launch of this financing line in 2023, nearly Rs 10 billion has already been disbursed from the allocated envelope. Beyond the financial volumes, the projects supported by MCB have delivered measurable and concrete benefits. Funded initiatives have helped avoid approximately 34,000 tonnes of CO₂ emissions, enabled the installation of 21.1 MW of renewable energy capacity, and supported projects in solar energy, sustainable mobility, circular economy practices, water management and wastewater treatment, energy efficiency, nature-based solutions, and cultural heritage preservation.