The European Bank for Reconstruction and Development (EBRD) has mobilized €300 million worth of loans for the benefit of three public enterprises in Morocco. The Moroccan minister also called on the EBRD to expand its support for other Public Enterprises and Establishments affected by the pandemic and to strengthen the Bank’s action in favor of the private sector to back up recovery. Earlier in August, the EBRD concluded a loan to support Morocco’s small businesses, allocating €40 million to the Moroccan branch of CaixaBank. A week earlier, EBRD approved a €40 million loan package to Moroccan bank “Crédit Immobilier et Hôtelier” to enable it enhance the resilience of local trade and businesses affected by covid-19 pandemic. In July, EBRD announced a $100 million loan to Moroccan “Banque Centrale Populaire (BCP).

Source: The North Africa Journal September 02, 2020 01:07 UTC