The European Bank for Reconstruction and Development (EBRD), supported by the Green Climate Fund (GCF) and the European Union, provides €25 million to Banque Marocaine pour le Commerce et l’Industrie (BMCI) to support Morocco’s green transition. The new EBRD financing comes under the Green Economy Financing Facility (GEFF) in Morocco, which is supported by the GCF. This is the fourth collaboration between the EBRD and BMCI since 2018. The Moroccan bank, which operates in the country since 1943, offers its business clients “green packs” with advantageous conditions. Since 2012, the European bank has invested more than €3.1 billion on 78 projects carried out across the Kingdom.

Source: The North Africa Journal December 25, 2021 06:44 UTC