MOROCCO. The European Bank for Reconstruction and Development (EBRD) is increasing loans to Morocco. It has just granted an envelope of € 40 million to Caixa Bank Maroc, a subsidiary of Caixa Bank, the leading retail bank in Spain. This sum is intended to support SMEs in difficulty following the covid-19 crisis. Caixa Bank Maroc has branches in Casablanca, Tangier and Agadir.
On August 11, the EBRD had already announced a loan of € 40 million to Crédit Immobilier et Hôtelier, also intended to support Moroccan SMEs and businesses hard hit by the pandemic and the containment measures. € 20 million will irrigate the Greater Casablanca-Rabat region, which represents 70% of the Moroccan economy. The remaining 20 M € will feed a line of credit dedicated to import / export operations.
The EBRD also leans at the bedside of Moroccan public enterprises. In mid-August, it validated a loan of € 115 million to the National Airports Office (ONDA), € 100 million to the Société Nationale des Autoroutes du Maroc (ADM) and € 50 million to the National Office. electricity and drinking water (ONEE). Here again, it is a matter of providing liquidity to economic players severely affected by the crisis. At the same time, the EBRD will help the three public enterprises to reform and improve their governance.
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