Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaEuropean Bank for Reconstruction and Development launches first key investment under coronavirus response in Morocco
The European Bank for Reconstruction and Development (EBRD) is responding to the impact of the coronavirus pandemic on the economy of Morocco, with a €145 million financing facility to Bank of Africa – BMCE Group. This is the first investment to be delivered under the EBRD’s coronavirus Resilience Framework that was set up to meet the immediate short-term liquidity and working capital needs of existing clients.
Under the agreement with Bank of Africa – BMCE Group the EBRD will provide a €100 million loan for on-lending to corporations and small and medium-sized enterprises that are experiencing a decrease in activity, turnover and profitability, to help them address their liquidity needs. In addition, the EBRD is increasing an existing uncommitted multi-currency trade finance limit by US$ 50 million (€45 million equivalent) to facilitate export and import transactions.
Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the EBRD has invested €2.2 billion in Morocco through 64 projects.
Read More
Countries covered:
-
Morocco
