Bank of Africa Group is continuing its development, particularly with the creation of BOA Cameroon and the strengthening of several existing banks. This financing will support the Group’s long-term financing capacity.
Proparco has allocated Odea Bank a EUR 20m senior credit line with a 10-year maturity for the renewable energies sector and energy efficiency projects. This credit line is Proparco's second operation with Odea Bank, following an initial EUR 20m operation in the same sectors in 2014.
The project will contribute to financing the production of 80 MW of geothermal and solar energy. By developing local renewable energy, the project will help Turkey increase its energy independence, which will have a positive impact on its economic growth in the medium term.
Odea Bank is the Turkish subsidiary of Bank Audi, a leading Lebanese bank. The bank experienced an extremely rapid start-up, thanks to a differentiated range of products on the market through its strong client focus and innovative approach in the banking industry. It is now the 8th largest Turkish private bank in terms of deposits and 9th in terms of loans.
29/10/2014Date of signature of the project
30 000 000 EurosAmount of funding
Loan of EUR 30 M and technical assitance of EUR 50,000
B.O.A. GROUP S.A.