The European Bank for Reconstruction and Development (EBRD)with the support of Green Climate Fund (GCF) and theEuropean Union (EU)is working on a new partnership with the Moroccan Bank for Commerce and Industry (BMCI). This partnership, which is part of the EBRD’s “Green Economy Financing Facility: GEFF” program, will mobilize a total budget of 65 million euros from BMCI, through two separate loans, to support the Moroccan private sector in his green transition.
The first loan concerns a line of credit of 35 million euros, co-financed to the tune of 1.75 million euros by the Green Climate Fund. It will enable us to support the TPMEin order to finance their investments in mitigation and adaptation to climate changewhile adopting a gender-sensitive approach. The targeted projects relate in particular to renewable energies on a small scale, energy efficiency, green buildings, circular economy, investments in adaptation to climate change (with a particular focus on water efficiency and sustainable land management), digitalization and investments inblue economy.
This facility will be supported by a technical assistance program for the preparation, implementation, verification and monitoring of projects for the benefit of the BMCI (funded by the GCF and the EU). It includes awareness activities as well as incentive grants for eligible customers to promote the adoption of technologies and of green, low-carbon services and climate resilient. Added to this is adapted training in green finance and technologies intended for women entrepreneurs financed.
The second loan, for an amount of 30 million euros, benefits from co-financing of 2.4 million euros from Canada through the multi-donor fund « High-Impact Partnership on Climate Action » (HIPCA). This loan aims to support medium-sized climate investments made by Moroccan private companies. Targeted sectors include renewable energy, energy projectsenergy efficiency industrial, green buildingseligible private sector investments in municipal infrastructure, as well as climate change adaptation projects (such as wastewater treatment or water desalination) and investments in the circular economy.
This 2nd facility also offers an integrated offer of long-term financing and technical assistance to promote medium-sized green, low-carbon and climate-resilient investments in the private sector. Funded by the EU, the technical assistance program focuses in particular on capacity building for the benefit of the BMCI.
Note that these two loans will have to be approved by the EBRD next February.
