{"id":70652,"date":"2021-09-24T14:29:29","date_gmt":"2021-09-24T12:29:29","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=70652"},"modified":"2021-09-24T14:29:29","modified_gmt":"2021-09-24T12:29:29","slug":"ebrd-gcf-eu-provide-e25-m-to-back-moroccos-green-transition","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/ebrd-gcf-eu-provide-e25-m-to-back-moroccos-green-transition\/","title":{"rendered":"EBRD, GCF, EU provide \u20ac25 m to back Morocco\u2019s green transition"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left;\">The <a href=\"https:\/\/www.csregypt.com\/en\/ebrd-provides-e25-m-loan-for-egypts-first-dry-port-under-green-cities-program\/\">European Bank for Reconstruction and Development (EBRD)<\/a> \u2013 supported by the\u00a0<a href=\"https:\/\/www.greenclimate.fund\/\">Green Climate Fund<\/a>\u00a0(GCF) and the\u00a0<a href=\"https:\/\/www.ebrd.com\/who-we-are\/structure-and-management\/shareholders\/european-union.html\">European Union<\/a>\u00a0(EU) \u2013 is providing a financial package of up to \u20ac25 million to\u00a0<a href=\"https:\/\/www.bankofafrica.ma\/en\">Bank of Africa &#8211; BMCE Group<\/a>\u00a0to support\u00a0<a href=\"https:\/\/www.ebrd.com\/morocco.html\">Morocco<\/a>\u2019s green transition.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The financing, of which a total of \u20ac18.75 million will be provided by the EBRD and \u20ac6.25 million by the GCF, will be extended as subloans by Bank of Africa and its leasing subsidiary Maghrebail to local citizens, small and medium-sized enterprises (SMEs) and corporates for investment in climate change mitigation and adaptation technologies.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The new EBRD financing comes under the\u00a0<a href=\"http:\/\/ebrdgeff.com\/morocco_facilities\/\">Green Economy Financing Facility<\/a>\u00a0(GEFF) in Morocco, which is supported by the GCF, and will build on the successful cooperation in implementing the\u00a0<a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/morocco-seff-morseff.html\">Morocco Sustainable Energy Financing Facility<\/a>\u00a0(MorSEFF) program. A comprehensive technical capacity package complemented by investment incentives, both funded by the EU, will support Bank of Africa &#8211; BMCE Group in the deployment of the program.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The EU considers this package to be a concrete help for companies to find and finance the solutions that are best suited to their transition to the green economy in Morocco.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The loan agreement was signed by Antoine Sall\u00e9 de Chou, Head of the EBRD\u2019s office in Morocco, and Brahim Benjelloun-Touimi, Director and Delegate General Manager, representing Bank of Africa &#8211; BMCE Group.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Bank of Africa &#8211; BMCE Group is the third-largest bank in Morocco and listed on the Casablanca Stock Exchange. The bank has been a partner of the EBRD since 2013, when a first trade finance facility was signed.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">\n","protected":false},"excerpt":{"rendered":"<p>The European Bank for Reconstruction and Development (EBRD) \u2013 supported by the\u00a0Green Climate Fund\u00a0(GCF) and the\u00a0European Union\u00a0(EU) \u2013 is providing a financial package of up to \u20ac25 million to\u00a0Bank of Africa &#8211; BMCE Group\u00a0to support\u00a0Morocco\u2019s green transition. The financing, of which a total of \u20ac18.75 million will be provided by the EBRD and \u20ac6.25 million [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":70654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030],"tags":[6087,7635,9965],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EBRD, GCF, EU provide \u20ac25 m to back Morocco\u2019s green transition - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The EBRD \u2013 supported by the\u00a0GCF and the\u00a0EU \u2013 is providing a financial package of up to \u20ac25 million\u00a0to support\u00a0Morocco\u2019s green transition.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/ebrd-gcf-eu-provide-e25-m-to-back-moroccos-green-transition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD, GCF, EU provide \u20ac25 m to back Morocco\u2019s green transition - 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