EBRD, GCF and EU boost green investments in Morocco
February 17, 2022
The European Bank for Reconstruction and Development (EBRD), with support from the Green Climate Fund (GCF), and the European Union, is providing a financial package of up to €25 million to Crédit du Maroc to boost Morocco’s green transition.
The financing, of which the equivalent of €18.75 million in local currency (MAD) will be provided by the EBRD and €6.25 million by the GCF, will be on-lent to small and medium-sized enterprises and to corporates for investments in climate change mitigation and adaptation technologies.
A comprehensive technical capacity package and investment incentives, funded by the EBRD, the European Union (EU) and the GCF, will support Crédit du Maroc in the deployment of the programme.
As part of this package, Crédit du Maroc will also enhance equal opportunities for women and men to access finance for green technologies. The institution will achieve this by conducting awareness-raising activities among potential sub-borrowers, building the capacity of its staff to help address gender-specific obstacles to supply and demand, and carrying out gender-related baseline assessments.
Morocco is a founding member of the EBRD and became an investee economy in 2012. To date, the EBRD has invested close to €3.2 billion in the country through 80 projects.