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TunisiaThe European Bank for Reconstruction and Development and BMCE Bank of Africa support green energy investments in Morocco
The European Bank for Reconstruction and Development (EBRD) provided a comprehensive financial package to BMCE Bank of Africa that will boost investments in the green economy in Morocco. The package will consist of a loan in two tranches for a total of up to €10 million.
The loan comes under the Morocco Green Economy Financing Facility (GEFF) for the financing sustainable energy projects via local partner banks. The EBRD launched its first energy efficiency framework in Morocco in 2015 with EU support and thanks to strong demand has since increased its engagement.
Morocco is a founding member of EBRD and became one of the Bank’s countries of operations in 2012. To date, the Bank has invested more than €1.7 billion in 50 projects across the country. The EBRD has also supported more than 550 Moroccan SMEs with advisory services.
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Morocco
