The EBRD mobilizes up to 55 million euros for green projects of Moroccan companies.
The European Bank for Reconstruction and Development (EBRD) Strengthens Support for Ecological Transition in Morocco’s Private Sector
The European Bank for Reconstruction and Development (EBRD) is enhancing its support for the ecological transition of the private sector in Morocco. The European financial institution has announced a financing agreement with CIH Bank for up to €55 million, aimed at supporting climate investments made by small and medium-sized enterprises (SMEs) and mid-sized companies (ETIs).
This financing is part of the "GEFF +" program and is structured around two complementary credit lines. The first involves an unsecured senior loan of up to €25 million awarded to Crédit Immobilier et Hôtelier (CIH Bank). The second takes the form of a MidGEFF loan that can reach €30 million.
Funding Dedicated to Energy Transition
The mobilized resources will help support projects related to combating climate change and the ecological transformation of Moroccan businesses. The targeted investments include the development of renewable energy, improving energy efficiency, constructing and renovating green buildings, and initiatives within the circular economy.
Through this initiative, the EBRD aims to facilitate private companies’ access to necessary financing to reduce their environmental footprint and enhance their capacity to adapt to the impacts of climate change.
Partnership with the Green Climate Fund and the European Union
The financial arrangement also anticipates a contribution from the Green Climate Fund (GCF), which is expected to co-finance the loan by €6.25 million.
Additionally, an incentive grant scheme and technical assistance will be funded by the European Union, as part of the Moroccan Decarbonization and Climate Resilience Program (MDCR), as well as by the Green Climate Fund.
According to the EBRD, CIH Bank will use the resources available to refinance private companies engaged in climate change mitigation and adaptation investments. The mechanism will also incorporate a gender-sensitive approach to consider this dimension within project financing.
This partnership between the EBRD, CIH Bank, the European Union, and the Green Climate Fund thus aligns with efforts to strengthen funding for the green transition of businesses in Morocco.
