Energy Transition / Sustainable Finance: Crédit du Maroc Signs Strategic Partnership with EBRD

Crédit du Maroc has announced a new partnership with the European Bank for Reconstruction and Development (EBRD), focusing on a €50 million financing line dedicated to a wide range of green projects. These projects will address energy efficiency, renewable energy, water conservation, and sustainable construction. The Green Economy Financing Facility (GEFF) program, which combines two complementary financing lines, marks a significant advancement in Crédit du Maroc's offerings for its clients. Through this program, clients can receive grants of up to 15% of their green investment amounts, along with technical assistance to help realize their projects. Companies with larger projects, particularly in the renewable energy sector, can also benefit from this new financing line, with loans reaching up to €15 million per sub-project. Ali Chorfi, a member of the board responsible for Corporate and Investment Banking at Crédit du Maroc, stated, "We are pleased to expand our collaboration with the EBRD to serve our corporate clients. This program continues our previous GEFF offerings aimed at supporting our clients' energy transition. It is highly valued by clients and aligns with our responsible development strategy, in line with our environmental commitments and those of our country. It represents an opportunity for our clients and a leverage point for our bank." In addition to financing, the GEFF Plus program offers valuable technical support. Crédit du Maroc clients will receive guidance on project structuring, implementation of eco-friendly solutions, and access to energy transition experts. This support is crucial for enabling companies to accelerate their transformation while maximizing the environmental impact of their investments. Furthermore, Crédit du Maroc continues to integrate green financing mechanisms into its product range, with refinancing lines already utilized by clients since 2020, such as Green Value Chain and GEFF 2. The success of these initiatives has financed large-scale projects in renewable energy, green buildings, and water conservation. Greg Guyett, EBRD's First Vice President, expressed, "We are pleased to collaborate with Crédit du Maroc to accelerate the country's green transition. This financing program will unlock private sector investments in climate resilience and low-carbon technologies, thus supporting the country's ambitious sustainable development goals. By working together with our partners, we are reinforcing the foundations of a greener and more inclusive future for Morocco." This partnership aligns with Crédit du Maroc's overarching goal of facilitating access to financing for businesses, particularly small and medium-sized enterprises (SMEs), to help them comply with national climate requirements, including those set by Bank Al-Maghrib's "Climate Change" circular. The GEFF Plus program thus represents a crucial lever for financing green projects, supporting Morocco's ambition to achieve carbon neutrality by 2050.