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TunisiaEuropean Bank for Reconstruction and Development and Green Climate Fund boost green economy and value chains in Morocco
The European Bank for Reconstruction and Development (EBRD) – supported by the Green Climate Fund (GCF) – is promoting the competitiveness of small businesses and investments in the green economy in Morocco with the provision of a comprehensive financial package of up to €10 million to Bank of Africa – BMCE Group.
Promoting greener economies is a priority for the EBRD. This package, of which a total of €7.5 million will be provided by the EBRD and €2.5 million by GCF, will be extended as subloans by Bank of Africa and its leasing subsidiary Maghrebail to local small and medium-sized enterprises (SMEs) that plan to invest in energy and resource efficiency projects and develop their participation in regional value chains.
The deployed green solutions will help SMEs increase their competitiveness and access new markets. Proposed solutions include the uptake of green technologies that will allow Moroccan SMEs to achieve better productivity while reducing their energy consumption.
The EBRD financing comes under the Green Value Chain programme (GVC) in Morocco, which is supported by the EU, GCF and Republic of Korea.
Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the EBRD has invested more than €2.8 billion in the country through 73 projects.
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Countries covered:
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Morocco
