Signature(s)
Summary sheet
- Credit lines - Credit lines
The project consists of a bank-intermediated loan to support private sector development in Morocco.
The aim is to enhance access to finance for small/medium projects carried out by small and medium sized enterprises (SMEs) and Midcaps in the country.
The operation aims to address the Moroccan SMEs' difficulties to access finance, in particular given the challenges posed by the COVID-19 crisis and the global negative impact of the Russian invasion in Ukraine. As SMEs play a vital role in Moroccan economy and make up the vast majority of firms in the country, the proposed operation would contribute to creating and safeguarding employment, including for young people, women and rural population, thanks to the good outreach of the financial intermediary to these underserved segments. The operation is an integral part of a financial package (including also a risk-sharing facility and technical assistance) which would provide SMEs in Morocco with financial and non-financial services helping them to increase their competitiveness, value added, export potential and integration with the international markets. Thus, the credit facility would be in line with the priorities of the Association Agreement between the EU and Morocco, the European Neighbourhood Policy and the Joint Communication on the renewed partnership with the Southern Neighbourhood, which focus on achieve inclusive, resilient, sustainable and connected economies. In addition, the operation would provide the financial intermediary with a long-term financing diversifying its primarily deposit and customer current account based funding.
The EIB requires Banque Centrale Populaire (BCP) to take all the requisite measures to ensure that the procedures carried out by the final beneficiaries of BCP loans will comply with both national legislation and the ElB's Environmental and Social Standards.
The EIB requires Banque Centrale Populaire (BCP) to take all the requisite measures to ensure that any procurement procedures carried out by the final beneficiaries of BCP loans will comply with the EIB's Guide to Procurement.
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Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
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