The European Bank for Reconstruction and Development (EBRD) is currently examining the granting of two loans totaling 70 million euros to Bank of Africa (BOA). Aimed at supporting the decarbonization and ecological transition of Moroccan companies, this financing is part of international initiatives to strengthen the green economy.
**A dual financing mechanism for a sustainable economy**
The two credit lines under consideration are structured as follows:
– A loan of 35 million euros, with an incentive component supported by the Green Climate Fund (GCF) and the European Union. This financing targets Moroccan SMEs and mid-sized enterprises, promoting investments in renewable energy, energy efficiency, green buildings, the circular economy, and digitalization.
– A loan of 35 million euros, backed by Canada through the HIPCA fund, dedicated to industrial and municipal infrastructure. This loan specifically aims at wastewater treatment, water desalination, and energy modernization of industrial sites.
These funds are part of strategic programs such as the MDCR (Decarbonization and Climate Resilience Program) and the GEFF III and MidGEFF schemes, designed to encourage companies to adopt low-carbon and sustainable solutions.
**A lever to accelerate the green transition in Morocco**
The EBRD’s assessment of these loans is based on criteria related to environmental impact, economic viability, and the ability to mobilize private investments. The goal is to facilitate access to financing for companies engaged in green projects, in partnership with international donors.
Aligned with Morocco’s national low-carbon strategy and Vision 2030, this approach also promotes women’s entrepreneurship and socially responsible initiatives, thereby enhancing inclusion in sustainable development.
**Bank of Africa, a key player in sustainable finance**
As the third-largest bank in Morocco, BOA plays a strategic role in financing infrastructure and businesses through its network present in 20 African countries. Its commitment to sustainable finance has been reflected in the establishment of strict environmental and social management mechanisms, aligned with international standards.
The acquisition of these loans would mark a new step in BOA’s commitment to a greener and more resilient Moroccan economy.