| Project Detail |
Location: Morocco Project number: 50285 Business sector: Financial institutions Notice type: Private Environmental category: FI Approval date: 17 Dec 2019 Status: Repaying PSD disclosed: 14 May 2024 Provision of an additional senior unsecured debt Tranche of up to EUR 10m to be provided to BMCE - Bank of Africa (BOA) under the existing GVC loan signed in 2020. The additional Tranche will bring the total facility amount to EUR 20m from the current amount of EUR 10m. As per the existing terms and conditions, the proceeds of the additional Tranche will be used by BOA and its leasing subsidiary Maghrebail for on-lending to private sector MSMEs beneficiaries for their capex investments in climate change mitigation and adaptation projects supporting a green economy across specific export value chains and sub-sectors in Morocco (including: agribusiness, manufacturing & services, logistics & distribution, and information & communication technologies). Project Objectives The additional Tranche will enable BOA, a Moroccan private bank, to further expand its offering of green lending products targeting Moroccan private sector MSMEs capex investment in climate-resilient technologies and services, ultimately supporting a green economy in Morocco. |
