| Project Detail |
Location: Morocco Project number: 55895 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 70 million GEFF + Package (including also a EUR 35 million GEFF III loan). Up to EUR 2.8 million is expected to be co-financed by Canada through the multi-donor fund High-Impact Partnership on Climate Action (HIPCA Canada). A comprehensive Technical Cooperation support for this operation will be funded by the European Union as part of the Morocco Decarbonisation and Climate Resilience (MDCR). 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. Project Objectives The project will promote a green economy in Morocco by supporting eligible private sector Corporates implementing mid-size climate-resilient investments. The project will specifically target, among other things: mid-size renewable energy investments, mid-size industrial energy efficiency sub-projects (such as energy efficiency upgrading of industrial sites), green buildings, eligible private sector investments in the municipal infrastructure sector, as well as climate adaptation projects (such as wastewater treatment or water desalination) and circular economy investments. |
