The facility, co-ordinated by Bank of America, Mizuho and SMBC Bank International is Standard Bank Group’s inaugural sustainability-linked loan. The margin on the loan is linked to Standard Bank’s performance against three sustainability key performance indicators (“KPIs”). The KPIs align with the Group’s sustainability strategy and relate to committed financing of renewable energy power plants and social projects in South Africa and across the continent, as well as employee diversity. The facility is structured as a two-year loan with an option for Standard Bank to elect to extend for a further year. Standard Bank is focused, primarily through its sustainable finance division, on providing financial products and services that support positive ESG outcomes, including green and social loans and bonds, sustainability-linked loans and bonds, sustainable trade and working capital solutions and impact investing. Commenting on the facility, Kenny Fihla, Chief Executive for Corporate and Investment Banking at Standard Bank Group said, “The transaction is fully aligned with the Group’s societal, economic and environmental (SEE) impact strategy and will result in positive impact across a number of the identified SEE impact areas – including climate change and sustainable finance.