The European Bank for Reconstruction and Development (EBRD) injected 211 million euros into 10 projects carried out in Morocco in 2021. More than half of the total investment financed green projects.
Through its Green Economy Financing Facility (GEFF) and Green Value Chain Programme, the EBRD has provided a total of €88 million to partner banks to help small and medium-sized enterprises and enterprises to invest in climate change mitigation and adaptation technologies.
A €6 million loan to Lamatem, a Moroccan producer of high-end medical clothing, was the first EBRD project to be backed by a European Union risk-sharing guarantee under its program the European Fund for Sustainable Development (EFSD), which helps meet short-term liquidity needs in the context of the recovery from the Covid-19 pandemic.
Under the same programme, the EBRD also provided a €10 million loan to pan-African mattress manufacturer Dolidol to finance a recycling project to transform used polyethylene terephthalate (PET) bottles into polyester fibers for bedding products.
In 2021, the EBRD continued to promote foreign direct investment (FDI) and regional integration by participating in an environmental, social and governance (ESG) bond issued by Faurecia, one of the main European automotive suppliers, to fund its operations in Morocco and support its goal of becoming carbon neutral by 2025.
The Bank helped 75 small and medium-sized enterprises (SMEs) through its advisory program focusing on digital technologies, women entrepreneurs and green issues.
Morocco undertook a number of key reforms in 2021. With EBRD support, for example, Morocco’s National Energy Regulatory Authority approved the country’s first-ever electricity grid code, a key milestone in the liberalization of the electricity sector and the development of new renewable capacities. .
Morocco will host the EBRD’s Annual General Meeting for the first time in 2022. It will be held in Marrakech from May 10 to 12.