| Project Detail |
Location: Morocco Project number: 55894 Business sector: Financial institutions Notice type: Private Environmental category: FI Approval date: 12 Mar 2025 Status: Pending Approval English-language PSD published: 20 Feb 2025 Provision of a senior unsecured loan to BMCE - Bank of Africa (BOA) of up to EUR 35 million, as part of a EUR 70m GEFF + Package (including also a EUR 35 million MidGEFF loan). Up to EUR 8.75 million is expected to be co-financed by the Green Climate Fund (GCF) and a comprehensive incentive grants and technical assistance package will be funded by the European Union, as part of the Morocco Decarbonisation and Climate Resilience Programme (MDCR), as well as the GCF. The proceeds of the loan will be used by BoA and its leasing subsidiary Maghrebail for on-lending to private companies to finance their climate change mitigation and adaptation investments in a gender-responsive way. Project Objectives The project will promote a green economy in Morocco by supporting private sector Moroccan MSMEs and Midcaps for their investments climate change adaptation and mitigation subprojects in a gender-responsive way. The project will specifically target, among other things: small-scale renewable energy, energy efficiency, green buildings, circular economy, climate adaptation investments (with a particular focus on water efficiency and sustainable land management), digitalisation and blue economy investments. |
