In a statement released on Wednesday, the EBRD notes that the financing will be on-lent to small and medium enterprises and corporations for investments in climate change mitigation and adaptation technologies.
The signing ceremony took place in Casablanca during the EU-Africa Business Forum 2022, held on the sidelines of the European Union-African Union Summit, in the presence of Heike Harmgart, EBRD Managing Director for the Southern Region and the eastern Mediterranean, Antoine Sallé de Chou, responsible for BERD in Morocco, Jean-Christophe Filori, responsible for EU cooperation in Morocco and Bernard Muselet, chairman of the board of directors of Crédit du Maroc.
A comprehensive set of technical capabilities and investment incentives, funded by the EBRD, EU and GCF, will support Crédit du Maroc in rolling out this program.
The bank specifies that the equivalent of 18.75 million euros will be provided by the EBRD in Moroccan dirhams, while the GCF will provide 6.25 million euros. Thanks to this financing, Crédit du Maroc will also strengthen equal opportunities between women and men in terms of access to financing for green technologies, adds the EBRD, noting that it intends to achieve this by carrying out awareness-raising activities. with potential sub-borrowers and building the capacity of their staff to help break down gender-related supply and demand barriers.
« This financing, the fourth of its kind in Morocco, is part of the Green Economy Financing Facility (GEFF), which is supported by the GCF“, underlines the same source, specifying that it is the second green line of credit that the EBRD grants to Crédit du Maroc. To date, the EBRD has invested nearly 3.2 billion euros in the Kingdom through 80 projects.
