EBRD, GCF boost green economy and value chains in Morocco

The European Bank for Reconstruction and Development – 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 financial package of up to €10 million to Bank of Africa – BMCE Group.

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 SMEs that plan to invest in energy and resource efficiency projects and develop their participation in regional value chains. 

The EBRD financing comes under the Green Value Chain programme in Morocco, which is supported by the EU, GCF and Republic of Korea.