€20M Energy Efficiency Loan for Moroccon Bank

FOUR financial institutions are providing a €20 million financing to the Moroccon BMCE Bank and its leasing subsidiary Maghrebail.

THE European Bank for Reconstruction and Development (EBRD), the Agence Française de Développement (AFD), the European Investment Bank (EIB) and Kreditanstalt für Wiederaufbau (KfW) have combined to strengthen sustainable energy measures in Morocco, with the support of the European Union Neighbourhood Investment Facility (EU NIF).
The proceeds of this EBRD-led facility are dedicated to financing energy efficiency and small-scale renewable energy investments. BMCE Bank will on-lend to small and medium-sized enterprises and corporates in the commercial and industrial sectors, including commercial construction and energy service companies.
BMCE Bank will also raise awareness among its clients, promoting energy-efficient and renewable energy technologies and strengthening local production.

The finance line is the first under the Morocco Sustainable Energy Financing Facility (MorSEFF), a comprehensive programme for sustainable energy investments through financial institutions.

Picture of a solar panels in eastern Morocco by Isofoton.es reproduced under CCL.

Wednesday 18th March 2015

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