The European Bank for Reconstruction and Development (EBRD) has granted a loan of 20 million euros to Crédit du Maroc as part of the “Green Value Chain” program. This program aims to support green investments carried by SMEs participating in certain value chains and/or ecosystems.
This line is part of the Kingdom’s strategy for the development of SMEs and green financing. By joining this line, Crédit du Maroc seeks to develop and provide its eligible customers with a solution for financing the green economy.
Eligible SMEs will benefit from attractive support enabling them to invest in green solutions
SMEs eligible for this program will benefit from attractive support including funding, an investment grant and technical expertise to verify the viability of their project.
The loan is financially supported by the European Union and the Green Climate Fund and is part of the EBRD’s program to strengthen the integration of SMEs into global value chains.
The loan agreement was signed on February 4, 2020 by the Director General of the EBRD in charge of financial institutions, Mr. Francis Malige and the Chairman of the Executive Board of Crédit du Maroc Mr. Bernard Muselet.
Encouraging the transition to greener economies is one of the EBRD’s priorities. The bank has proven and successful experience in setting up credit lines in Morocco to promote energy efficiency, such as the Financing Mechanism for Sustainable Energy.
Crédit du Maroc, like its parent company Crédit Agricole SA Group, is firmly committed to the Moroccan ecosystem to be a solid and responsible financial operator at the service of its customers and aims to become a recognized player in terms of social responsibility and sustainable development. The bank is today enriching its green energy financing offer, intended for SMEs, and places this commitment within the framework of its medium-term business plan.
It is therefore natural that Crédit du Maroc signs this partnership with the EBRD to support the transition to a green economy concerned with a better future.