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EBRD and BMCE Bank support green economy

The European Bank for Reconstruction and Development (EBRD) is supporting the green economy in Morocco by providing the BMCE Bank of Africa with a financial package consisting of a 10 million Euros loan under the GEFF program support from the Green Climate Fund, and a risk-sharing program of 50 million Euros.

Alain Pilloux, Vice-President of the EBRD and BMCE Bank of Africa Executive Director and Executive Director Brahim Benjelloun-Touimi signed a loan agreement of 5 million euros to support the investments of Moroccan private companies in the green economy . This line represents the first tranche of an envelope of 10 million euros of funding.

For the first time in Morocco, the EBRD has mobilized a contribution from the Green Climate Fund to provide this loan with co-financing and a technical assistance budget. In addition, BMCE Bank Of Africa is also the first bank in Morocco with which the EBRD is setting up a Risk Sharing Facility (RSF).

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