{"id":83402,"date":"2022-12-12T21:31:53","date_gmt":"2022-12-12T19:31:53","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=83402"},"modified":"2022-12-12T21:31:53","modified_gmt":"2022-12-12T19:31:53","slug":"ebrd-gcf-eu-to-allocate-e25m-to-back-moroccos-green-transition","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/ebrd-gcf-eu-to-allocate-e25m-to-back-moroccos-green-transition\/","title":{"rendered":"EBRD, GCF, EU to allocate \u20ac25m to back Morocco\u2019s green transition"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left;\">The European Bank for Reconstruction and Development (<a href=\"https:\/\/www.csregypt.com\/en\/ebrd-provides-50-m-financial-package-to-support-smes-in-egypt\/\">EBRD<\/a>) is partnering with 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) to provide a financing package of up to \u20ac25million to\u00a0<a href=\"https:\/\/www.bcpbank.mu\/en\/about-bcp-group\">Banque Centrale Populaire<\/a>\u00a0(BCP) to support\u00a0<a href=\"https:\/\/www.ebrd.com\/morocco.html\">Morocco<\/a>\u2019s green transition.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">This is the third facility the EBRD has provided to BCP under the\u00a0<a href=\"http:\/\/ebrdgeff.com\/morocco_facilities\/\">GCF Green Economy Financing Facility (GEFF) Regional Framework<\/a>. BCP will extend sub-loans to the private sector, in particular small and medium-sized enterprises (SMEs), to foster investment in climate change mitigation and adaptation technologies.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Funded by the EBRD, the EU and the GCF, a technical cooperation package worth \u20ac4.4 million will support the preparation, implementation and overall monitoring of the project. The funds will also be used to build BCP\u2019s capacity, as well as for awareness-raising activities on climate change mitigation and adaptation technologies among sub-borrowers.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">BCP central and regional staff will also be trained on gender-responsive green finance to help address gender-specific supply and demand obstacles. The EU will provide a \u20ac2.7 million grant to be used as a 10 percent cash-back incentive for borrowers on the successful implementation of eligible projects, to encourage investments in climate change mitigation and adaptation technologies.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The loan agreement was signed by Antoine Sall\u00e9 de Chou, Director, Head of the Moroccan Resident Office of the EBRD, and Mohammed Kamal Mokdad, General Manager of BCP. The signing took place on the sidelines of the Casablanca stopover of BCP Group\u2019s Les R\u00e9gionales de l&#8217;Investissement roadshow, in the presence of Group President Mohamed Karim Mounir, as well as several of the country&#8217;s leading economic figures.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">BCP is one of the leading banking institutions in Morocco. It draws its strength from its values of solidarity and its unique organizational structure. It is composed of eight regional cooperative banks, BCP \u2013 the central body of the group and a public limited company \u2013 specialized subsidiaries, foundations and banks, and representations abroad. The BCP Group is present in 32 countries around the world. It is Morocco\u2019s leading savings bank and a major player in financing the economy.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">\n","protected":false},"excerpt":{"rendered":"<p>The European Bank for Reconstruction and Development (EBRD) is partnering with the\u00a0Green Climate Fund\u00a0(GCF) and the\u00a0European Union\u00a0(EU) to provide a financing package of up to \u20ac25million to\u00a0Banque Centrale Populaire\u00a0(BCP) to support\u00a0Morocco\u2019s green transition. This is the third facility the EBRD has provided to BCP under the\u00a0GCF Green Economy Financing Facility (GEFF) Regional Framework. BCP will [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":83403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EBRD, GCF, EU to allocate \u20ac25m to back Morocco\u2019s green transition - Csr Egypt<\/title>\n<meta name=\"description\" content=\"EBRD is partnering with GCF and EU to provide a financing package of up to \u20ac25million to\u00a0Banque Centrale Populaire\u00a0(BCP) to 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-to-allocate-e25m-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 to allocate \u20ac25m to back Morocco\u2019s green transition - 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