Morocco: Green Projects Receive Boost from EBRD

The green projects launched by Moroccan enterprises will receive support from the European Bank for Reconstruction and Development (EBRD).

In this respect, a Memorandum of Understanding was signed in Rabat by Moroccan Minister of Economy and Finance Mohammed Boussaid, and EBRD Vice President Pierre Heilbronn, who is on visit to Morocco from 24 to 29 January for meetings with cabinet members.

Under this agreement, EBRD will offer financial support for local small and medium-sized enterprises (SMEs) in implementing their green projects with the aim to boost green economy financing in Morocco.

This green endeavor is part of a commitment made by Morocco at the UN climate summit COP22 in November 2916 in Marrakech.

Since 2013, the European Bank has granted more than €1.5 billion in loans to Morocco, which is one of the founding countries of EBRD, Boussaid said, adding that the loans were intended specifically for private sector financing.