Morocco : EBRD grants €100 million to support MSMEs

Nov 24, 2014

The bank Banque Centrale Populaire (BCP) has contracted a €100 million loan from the European Bank for Reconstruction and Development (EBRD) to support micro, small and medium-sized enterprises (MSMEs) in Morocco.

The bank Banque Centrale Populaire (BCP) has contracted a €100 million loan from the European Bank for Reconstruction and Development (EBRD) to support micro, small and medium-sized enterprises (MSMEs) in Morocco.

The funds - which can be used in euro or dirham - will be rolled out to regional branches to enable them to support the sustainable growth of MSMEs in their various markets, both in Morocco and abroad, newspaper Libération reports.

The two sides had signed a similar partnership agreement in June 2013 with the aim of facilitating the financing of MSMEs' global commercial transactions.

It included the creation of a trade finance facility of around 426 million dirhams (€38.2 million).

"The EBRD aims to contribute to inclusive growth in the region and to the development of public services and infrastructure," said Alain de Cointet, Director for France at the EBRD, quoted by Aujourd'hui Le Maroc.

Emphasizing the importance of the private sector, he reiterated the commitment of the EBRD to continue to support companies through the development of capital markets and ease of access to financial markets.ADNFCR-2976-ID-801761813-ADNFCR