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TunisiaEBRD, EU and GCF strengthen green investments in Morocco
The European Bank for Reconstruction and Development (EBRD), supported by the Green Climate Fund (GCF) and the European Union (EU), is providing a financial package of up to €13 million to Bank of Africa – BMCE Group (BOA) to support Morocco’s green transition.
Bank of Africa and its leasing subsidiary, Maghrebail, will extend the financing – of which €9.75 million will be provided by the EBRD and €3.25 million by the GCF – as sub-loans to small and medium-sized enterprises (SMEs) and other firms to support their investments in climate change mitigation and adaptation technologies.
These funds are an extension of an existing loan provided under the Green Economy Financing Facility (GEFF), signed by the EBRD and Bank of Africa in September 2021, to meet a sustained demand for green finance.
Countries covered:
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Morocco
