EBRD, GCF and EU promote climate mitigation and adaptation in Morocco

February 21, 2022
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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 €25 million to Société Générale Maroc to boost Morocco’s green transition.

Société Générale Maroc will lend on the financing ‒ €23.75 million of which is being provided by the EBRD and €1.25 million of which by the GCF ‒ in the form of sub-loans to local citizens, micro-, small and medium-sized enterprises (MSMEs) and other companies for investment in climate change mitigation and adaptation technologies.

The new EBRD financing comes under the Green Economy Financing Facility (GEFF) in Morocco, which is supported by the GCF. It is the second green facility provided by the EBRD to Société Générale Maroc.

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.

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Countries covered:

  • Morocco