EBRD Grants €40 Million Loan to Boost Moroccan SMEs Amid Pandemic

According to the EBRD, small and medium-sized enterprises are the beating heart of the Moroccan economy and are the most affected by the current health and economic crisis linked to the Covid-19 pandemic.

Under this facility, the EBRD will provide a loan of 20 million euros to CIH to provide medium-term financing to SMEs, thus increasing the availability of financing beyond the Greater Casablanca-Rabat region, where 70% of the Moroccan economy is concentrated, a statement from the European Bank said.

In addition to this loan, the EBRD is providing a trade finance line of 20 million euros to facilitate the import and export transactions of Moroccan companies, the same source added.

A founding member of the EBRD, Morocco became an area of operations in 2012. In total, 65 projects have been implemented by the EBRD for an investment of 2.4 billion euros.