EBRD steps up support for Moroccan industrial enterprises
December 22, 2015
The European Bank for Reconstruction and Development (EBRD) is providing a €100 million loan to Morocco’s Banque Centrale Populaire (BCP) to support industrial small and medium sized enterprises (SMEs) in the country.
The EBRD funds for BCP will be on-lent to industrial SMEs operating in the export-oriented Moroccan off-shore zones, as well as the mainland, increasing available funding for this vital sector and helping to integrate Moroccan SMEs into the global economy through export growth.
The SME credit line will be reinforced by technical cooperation activities and business advisory services for sub-borrowers. These will be funded by the EU Neighbourhood Investment Facility (NIF), the SEMED Multi-Donor Account and the EBRD Shareholder Special Fund.
The EBRD has been investing in Morocco since 2012. To date, the Bank has committed €874 million in 24 projects across the country, in addition to over €150 million of trade-facilitation credit lines with local banks.(EU Neighbourhood Info)