EBRD Grants $300 Million Loan to Moroccan State Companies Amid COVID Crisis

The documents relating to these loans were signed on Tuesday by the Minister of Economy, Finance and Administration Reform, Mohamed Benchaaboun. By piloting these files, the Ministry of the National Economy intends to help Public Enterprises and Establishments (EEP) cope with the effects of the crisis generated by Covid-19. In addition to the 300 million euros, the EBRD will also provide technical assistance to support the modernization and consolidation of the governance of the EEPs.

The EBRD, through its Vice President Alain Pilloux, expressed its joy at being able to support Morocco in these difficult times marked by an acute health crisis. The Moroccan Minister of Finance, for his part, invited the EBRD to go beyond these three EEPs to the many others that Morocco has and are just waiting for a helping hand to innovate.