Home / Banking / EBRD and BMCE Bank support green economy

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).

Check Also

The Israeli company NewMed Energy will look for gas in southern Morocco

The Israeli company NewMed Energy announced the signing of a memorandum of understanding for the …

Leave a Reply