Morocco lands green loans for SME on-lending: Bank of Africa – BMCE Group (BOA) has secured EUR 13 mn in loans from the European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) to support Morocco’s green transition, according to an EBRD press release. The multilateral lender will provide EUR 9.75 mn and EUR 3.25 mn will be provided by GCF. BOA and leasing subsidiary Maghrebail will use the funding to on-lend to SMEs investing in climate change adaptation and mitigation technology. The EU will separately provide a EUR 1.43 mn grant for climate change mitigation and adaptation tech investments.

The funds are an extension of a EUR 25 mn loan provided under Green Economy Financing Facility, signed by the EBRD and BOA in September last year.