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European Union

EBRD Partners with International Organizations to Promote Green Lending in Morocco

Strategic Insights

— 2 min read

The European Bank for Reconstruction and Development (EBRD) has announced a 70 million loan package to Bank of Africa (BOA) as part of its efforts to promote green lending in Morocco's private sector. The funding, which combines resources from the EBRD, Green Climate Fund (GCF), European Union (EU), and Canada, will be used to extend green loans to Moroccan companies, focusing on climate change mitigation and adaptation technologies. The loan will also include a comprehensive technical cooperation package worth 6 million, which will promote equal opportunities and women's access to climate finance.

Key Takeaways:

  • The EBRD has partnered with multiple international organizations, including the GCF, EU, and Canada's HIPCA, to provide a 70 million loan to BOA.
  • The funding will be split between a 35 million senior unsecured loan from GCF and a 35 million co-financed by HIPCA.
  • The loan will support the extension of green loans to Moroccan private-sector companies, with a focus on micro, small, and medium-sized enterprises.
  • The technical cooperation package will promote equal opportunities and women's access to climate finance, including training for BOA branch staff and awareness-raising sessions.
  • The EU will provide 2.38 million in investment grants, while GCF will contribute the remaining 3.62 million.
  • BOA, the third-largest bank in Morocco, has been a key EBRD partner in green finance, with 113 million in green loans already extended through this cooperation.
  • This financing initiative is part of a broader push by EBRD in Morocco, which has invested 5.4 billion in the country through 117 projects since 2012.

Statistics:

  • 70 million: The total loan amount provided by the EBRD, GCF, EU, and Canada to BOA.
  • 35 million: The senior unsecured loan from GCF.
  • 35 million: The co-financed amount by HIPCA.
  • 6 million: The value of the comprehensive technical cooperation package.
  • 2.38 million: The investment grant provided by the EU.
  • 3.62 million: The contribution by GCF to the technical cooperation package.
  • 113 million: The total green loans extended by BOA through its cooperation with the EBRD.
  • 5.4 billion: The total amount invested by the EBRD in Morocco since 2012.
  • 117: The number of projects invested in by the EBRD in Morocco since 2012.
  • 32: The number of countries where BOA has presence, across Africa, Europe, Asia, and North America.

Sources:

  • European Bank for Reconstruction and Development (EBRD)
  • Green Climate Fund (GCF)
  • European Union (EU)
  • Canada's High-Impact Partnership on Climate Action (HIPCA)
  • Bank of Africa (BOA)
  • Global Data Point
  • SyndiGate Media Inc.

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