Capital Bank - Digital Bank Facility

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a senior unsecured loan of up to USD 30 million to Capital Bank, to (i) finance the expansion of Capital Bank's digital bank "Blink" in Jordan and (ii) on-lend to private underserved micro, small and medium-sized enterprises ("MSMEs") in Jordan through "Blink".

Project ID 53492

Status Cancelled

Location

Jordan

Business Sector

Financial Institutions

Notice Type

Private

Company Contact Information

Jamal AlQudah
Jamal.AlQudah@CapitalBank.jo
+962 6 5100200 (ext: 2886/2887)
www.capitalbank.jo
Al Abdali, Sulaiman Alnabulsi Street, Building 26, Amman, Jordan

Project ID 53492

Status Cancelled

Location

Jordan

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

30 Nov 2022

Disclosure date

20 Oct 2022

Capital Bank - Digital Bank Facility (Arabic) (PDF, 0.84MB)

Project description

Project objectives

The EBRD loan will support Capital Bank in its digitalization strategy through its Neo Bank "Blink", which aims to provide integrated digital banking services to underserved MSMEs.

Transition impact

ETI Score:65

project supports (i) the Competitive TI quality which stems from Blink's innovative value proposition in the market, its ambitious growth targets and its enhanced SME outreach, as well as (ii) the Inclusive TI quality which derives from Blink's offer of more accessible and affordable banking solutions and Blink's provision of basic financial education to its customers.

Client information

CAPITAL BANK OF JORDAN

Capital Bank ("CB") is a universal commercial bank and the 3rd largest in Jordan with market shares of 8.3% and 7.8% in terms of assets and loans as at H1 2022. Capital Bank was established in 1999 and is listed on the Amman Stock Exchange. CB serves to corporates, SMEs, and retail clients through its 39 branches across Jordan.

EBRD Finance Summary

USD 30,000,000.00

Up to USD 30 million.

Total project cost

USD 30,000,000.00

Up to USD 30 million.

Additionality

The project offers a longer-term financing and enhances the client's gender practices introducing sex-disaggregated data collection and analysis in the Management Information System.

Environmental & Social Summary

Categorised FI (ESP 2019): Capital Bank is an existing client and has demonstrated compliance with EBRD's requirements for FIs under previous exposure. The Bank has adequate labour and health and safety policies and practices to implement the expansion of their digital banking service, and is required to continue to apply EBRD's E&S Risk Management Procedures for SME Loans. CB's E&S performance will be monitored through the review of annual reports.

Technical Cooperation and Grant Financing

None.

Company Contact Information

Jamal AlQudah
Jamal.AlQudah@CapitalBank.jo
+962 6 5100200 (ext: 2886/2887)
www.capitalbank.jo
Al Abdali, Sulaiman Alnabulsi Street, Building 26, Amman, Jordan

PSD last updated

20 Oct 2022

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Capital Bank - Digital Bank Facility

Overview

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)