MCB expands sustainable finance facility to $531 million to drive green growth

MCB Group, Mauritius’ leading financial institution, has strengthened its commitment to sustainable development by increasing its dedicated sustainable finance facility by 150% to MUR25 billion ($531 million), reinforcing its role in financing a more resilient, inclusive, and low-carbon economy.

The expansion, which is 2.5 times the original MUR10 billion ($212.39 million), marks a significant step in the bank’s environmental, social, and governance (ESG) strategy, as it seeks to support a growing pipeline of projects delivering measurable environmental and social impact across Mauritius and the wider region.

MCB’s growing sustainable finance footprint

Since launching its sustainable finance initiative in 2023, MCB has disbursed nearly MUR10 billion ($212.4 million) to fund projects spanning renewable energy, green infrastructure, and social development. These investments have already yielded tangible outcomes, including the prevention of approximately 34,000 tonnes of CO₂ emissions and the installation of about 21.1 MW of renewable energy capacity.

The bank’s expanding portfolio reflects rising demand from businesses seeking to align profitability with sustainability, as climate considerations and social impact increasingly shape investment decisions.

Beyond financing, MCB has broadened its offering to include advisory services and specialized instruments such as green bonds and sustainability-linked bonds, positioning itself as a key partner in the transition to sustainable business practices.

Comprehensive solutions for businesses and individuals

Aldo Sydonie, Head of Mauritian and Regional Corporates at MCB, said the move reflects both market demand and confidence in the country’s long-term growth trajectory.

“Sustainable finance is no longer an option, it is a necessity. Increasing our dedicated facility reflects our confidence in Mauritius’ sustainable growth potential and our commitment to supporting businesses throughout this transformation,” he said. Over the years, MCB has built a diversified suite of sustainable finance solutions tailored to different customer segments. These include green loans for individuals investing in renewable energy and water systems, as well as targeted schemes such as the “Lokal is Beautiful” initiative for small and medium-sized enterprises.

For corporate clients, the bank offers products such as sustainable loans, green leases, sustainability-linked loans, and sustainable trade finance solutions. These are designed to support projects in areas including energy efficiency, water management, circular economy initiatives, climate adaptation, and social infrastructure. The Sustainable Loan, introduced in 2023, remains a cornerstone of the offering, providing preferential interest rates, flexible financing structures, and repayment periods of up to 15 years for eligible projects.

Framework ensures transparency and impact

To underpin its sustainable finance activities, MCB introduced a Sustainable Finance Framework in 2024, establishing clear eligibility criteria, assessment processes, and monitoring mechanisms.

The framework aligns the bank’s financing activities with international best practices, ensuring that funds are directed toward projects that deliver verifiable environmental and social benefits while maintaining transparency and accountability.

It now serves as the foundation of MCB’s sustainable finance strategy, enabling the bank to scale its impact while maintaining rigorous standards.

Strategic push for future growth

With the facility now expanded by 150% to MUR25 billion ($531 million), MCB is positioning itself to accelerate financing across key sectors such as renewable energy, green buildings, sustainable supply chains, and social development initiatives.

Vanessa Doger de Speville, Group Head of Sustainability, Reputation and Engagement, added that the bank sees finance as a catalyst for long-term transformation.

“By supporting our clients throughout their transition, we are helping build a more resilient, inclusive, and sustainable economy. This expansion is fully aligned with our purpose of creating lasting value for clients, communities, and future generations,” she said.

As sustainability becomes central to economic development, MCB’s expanded facility underscores its ambition to remain at the forefront of financing solutions that balance financial returns with environmental and social impact.