European Bank for Reconstruction and Development and Crédit du Maroc boost green economy and value chains in Morocco
February 10, 2020
Small and medium-sized enterprises (SMEs) in Morocco will benefit from a European Bank for Reconstruction and Development (EBRD) credit line of up to €20 million to Crédit du Maroc dedicated to green investment and the development of value chains.
The EBRD funds will be extended as subloans to local companies that plan to invest in energy and resource efficiency measures and develop their participation in regional value chains. Energy efficient solutions will help SMEs to increase their competitiveness and access new markets.
The European Union and the Green Climate Fund are providing grants to help promote and implement the credit line. In addition, borrowers will benefit from free expert advice on green investment.
The loan was signed by the EBRD Managing Director for Financial Institutions, Francis Malige, and the CEO of Crédit du Maroc, Bernard Muselet, in the presence of the EU Delegation to Morocco.
Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the Bank has invested around €2 billion in the country through 60 projects.