Morocco-EBRD: Launch of Green Economy Financing Facility II

The European Bank for Reconstruction and Development (EBRD) launched this week in Casablanca the Green Economy Financing Facility Morocco II (GEFF II), a credit line facility of €163.5 million.

Green Economy Finance Facility Morocco II (GEFF II) is a €163 million financing line set up by the European Bank for Reconstruction and Development (EBRD) with the support of the European Union (EU) and the Green Climate Fund (GCF).

GEFF II follows on successful implementation of MorSEFF program in the period 2015-2021.

This credit line facility is an intermediated financial program providing financing to local participating financial institutions (PFIs) for on-lending to private enterprises in Morocco for financing green investments in sustainable energy (energy efficiency and renewable energy), water conservation, waste reduction, green buildings, circular economy and soil erosion protection.

EBRD Managing Director for the Southern and Eastern Mediterranean region, Heike Harmgart, said that this is the third green financing program launched by the EBRD in Morocco and takes place following the success of previous programs.

The program seeks to develop and improve the competitiveness of Moroccan companies while reducing carbon dioxide emissions, Ms. Harmgart added.

Overall, the program would enable greater private sector involvement and held Morocco’s transition to a resilient, low-emission and environmentally sustainable economy, she noted.