Lafarge Algérie and Société Générale Algérie sign a loan agreement relating to sustainable financing (Sustainability Linked Loan), during a ceremony held on Tuesday July 12, in the presence of Julien Sterenzy, Chairman of the Management Board of Société Générale Algérie and of Nicolas George, Representative of the Holcim Group in Algeria, accompanied by their respective delegations as well as the Algerian media.
This unprecedented credit agreement in Algeria, worth 1.4 billion dinars, aims to finance the company’s activities with a Bonus-Malus mechanism linked to Lafarge Algeria’s climate objectives. It is an incentive financing structure backed by an ambitious environmental objective of reducing greenhouse gas “CO2”. The achievement of this objective is measured through a predefined performance indicator “KPI” linked to the production activities of its LCM subsidiary “Lafarge Ciment de M’Sila”.
“This financing is fully in line with the development plan of the green growth strategy of the Holcim group which has set a target of reaching more than 40% of financing agreements linked to sustainability objectives by 2025. Through this new financial agreement, Lafarge Algeria continues to make a civic and responsible contribution to the positive transformations that Algeria is experiencing, in accordance with the guidelines of the Algerian government” underlines Nicolas GEORGE, Representative of the Holcim Group in Algeria.
“Société Générale Algérie, by setting up this financing solution, aims to facilitate and encourage sustainable growth and development of the activities of economic operators in Algeria, within the framework of a global offer, which integrates environmental, social and governance criteria, to meet the needs of its clients in the field of Sustainable Finance, with a positive impact. This offer mobilizes all of the bank’s Environmental & Social (E&S) expertise in a range of innovative financial solutions. explains Julien Sterenzy, Chairman of the Management Board of Societe Generale Algeria.
This action is also part of the Societe Generale Group’s commitments, which translate into a proactive and responsible policy and proactive support for customers in their energy transition and their CSR ambitions.
