USD 75 million climate finance facility signed between Absa Mauritius and Proparco

Mr. Ravin Dajee, Managing Director of Absa Bank (Mauritius) Limited, signing the agreement alongside Mr. Rémy Rioux, CEO of AFD Group, with officials from Proparco

Absa Bank (Mauritius) Limited has secured a landmark USD 75 million climate finance facility from Proparco, the private sector arm of the Agence Française de Développement (AFD) Group.

The formal recognition took place on Friday, 25 April 2025, at Labourdonnais Hotel, Port Louis, Mauritius.

The ceremony featured a symbolic signing moment between Mr. Ravin Dajee, Managing Director of Absa Mauritius, and Mr. Rémy Rioux, CEO of AFD Group, with key public and private sector stakeholders in attendance.

The USD 75 million facility reinforces Absa Mauritius’ commitment to accelerating the green transition and promoting sustainable finance solutions that support Mauritius’ Nationally Determined Contributions (NDCs). The funds will be exclusively allocated to climate co-benefit projects, including large-scale solar energy developments, certified green buildings, and innovative waste-to-resource initiatives.

“This strategic partnership between Absa and Proparco reinforces our shared commitment to fostering sustainable growth and development across Mauritius and Africa, paving the way for a more resilient and inclusive future.,” said Ravin Dajee, Managing Director of Absa Mauritius.

“By leveraging our combined expertise and resources, we aim to drive impactful initiatives that address key economic and environmental challenges. This collaboration underscores our dedication to creating long-term value for all our stakeholders and adopting a truly partnering approach with our clients and customers towards a more sustainable future.”

Emmanuelle Riedel-Drouin, Head of Proparco’s Debt Department, highlighted:

“We are proud to join forces with Absa Bank Mauritius in this transformative partnership, which represents a significant step towards advancing climate resilience across Africa. Together, we are empowering Absa to expand its climate finance capabilities, driving the sustainable transformation of Mauritius and contributing to broader positive impacts across the continent.”

The recognition of the Proparco – Absa Mauritius agreement took place alongside other strategic partnerships with Mauritian financial institutions, symbolising France and Mauritius’ joint commitment to climate resilience and inclusive development.