Morocco: EBRD provides €13 million to Bank of Africa to support green transition

The European Bank for Reconstruction and Development (EBRD), with the support of the Green Climate Fund (GCF) and the European Union (EU), on 26 October provided €13 million to Bank of Africa (BOA) to support Morocco’s green transition.

BOA and its leasing subsidiary, Maghrebail, will extend the financing, of which €9.75 million will be provided by the EBRD and €3.25 million by the GCF, in the form of sub-loans to small and medium-sized enterprises (SMEs) and other companies to support their investments in climate change mitigation and adaptation technologies, the EBRD said in a statement.