€20 million loan to BMCE Bank for energy efficiency | European Bank for Reconstruction & Development
European development banks are supporting Morocco’s sustainable energy development:
The European Bank for Reconstruction and Development (EBRD), the Agence Française de Développement (AFD), the European Investment Bank (EIB) and Kreditanstalt für Wiederaufbau (KfW) are teaming up to strengthen sustainable energy measures in Morocco, with the support of the European Union Neighbourhood Investment Facility (EU NIF).
The four financial institutions are providing a €20 million financing facility to BMCE Bank and its leasing subsidiary Maghrebail.
The finance line is the first under the Morocco Sustainable Energy Financing Facility (MorSEFF), a comprehensive programme for sustainable energy investments through financial institutions.
The proceeds of this EBRD-led facility are dedicated to financing energy efficiency and small-scale renewable energy investments. BMCE Bank will on-lend to small and medium-sized enterprises and corporates in the commercial and industrial sectors, including commercial construction and energy service companies…[Full Story]