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TunisiaThe European Bank for Reconstruction and Development strengthens the resilience of small businesses in Morocco
The European Bank for Reconstruction and Development (EBRD) is strengthening private small businesses and trade in Morocco with a €40 million financing package to Crédit Immobilier et Hôtelier, SA (CIH).
Small and medium-sized enterprises (SMEs) form the core of the Moroccan economy and are the most affected by the current health and economic crisis. Under this facility, the EBRD will provide a €20 million loan to CIH to provide as medium-term financing to private SMEs, increasing the availability of funding beyond the Greater Casablanca-Rabat region, where 70 per cent of the Moroccan economy is concentrated.
This is expected to help the swift recovery of the local economy, as well as strengthen its resilience in the medium and long term. In addition to this financing, the EBRD is providing a €20 million trade finance line to help facilitate the export and import transactions of Moroccan businesses.
Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the EBRD has invested €2.4 billion in Morocco through 65 projects.
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Morocco
