The European Bank for Reconstruction and Development (EBRD) is supporting micro, small and medium-sized enterprises (MSMEs) in Morocco through a senior loan of up to €50 million in local currency granted to Crédit Agricole du Maroc (CAM).

This loan will be used to finance and support the projects of eligible MSMEs, 65 per cent of which are in areas affected by the earthquake of September 2023, providing them with the liquidity they need to restart and sustain their activities, while preserving and rebuilding their livelihoods and human capital.

This loan agreement was signed in Rabat, Morocco, by the President of the EBRD, Odile Renaud-Basso, and the President of Crédit Agricole du Maroc, Mohammed Fikrat, in the presence of Ahmed Bouari, Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forests. It follows the conclusion of a memorandum of understanding between the EBRD and Crédit Agricole du Maroc in February 2024 aimed at strengthening cooperation in Morocco as regards access to financing, financial inclusion and the green economy.

This project is fully aligned with the Bank’s country strategy for Morocco, which regards financing MSMEs as a priority. The Ministry of Agriculture, Maritime Fisheries, Rural Development, and Water and Forests has made rural entrepreneurship a key pillar of the “Génération Green” strategy. It places particular emphasis on supporting and guiding rural MSMEs, which, although central to Morocco’s economy, remain a segment that requires specific and tailored support. This EBRD funding will foster the creation of high-quality private-sector jobs and help to develop a resilient economy, enhancing both the private sector and the broader economy.