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TunisiaEuropean Bank for Reconstruction and Development boosts SME financing in Morocco
August 19, 2020
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The European Bank for Reconstruction and Development (EBRD) is supporting small businesses in Morocco to withstand the coronavirus pandemic with an approximately 430 million dirham (equivalent to circa €40 million) loan to CaixaBank’s Morocco branch.
The EBRD loan will help CaixaBank increase much-needed funding for local small and medium-sized enterprises (SMEs) to address companies’ needs.
In Morocco, the EBRD was one of the first financial institutions to develop financial and advisory instruments to mitigate the impact of the Covid-19 pandemic on the economy.
Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the Bank has invested around €2.4 billion in the country through 65 projects.
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