In a major initiative to support Morocco’s green transition, the European Bank for Reconstruction and Development (EBRD), alongside the Green Climate Fund (GCF), the European Union (EU), and Canada, has launched a €70 million financing package for Bank of Africa (BOA) under the Green Economy Financing Facility Plus (GEFF+).
Boosting Green Investments in Morocco’s Private Sector
The financing aims to expand access to climate finance for private-sector businesses, including micro, small, and medium-sized enterprises (MSMEs) seeking to invest in low-carbon technologies and climate resilience measures. The package includes a €35 million senior unsecured loan from GCF and an additional €35 million co-financed by HIPCA (High-Impact Partnership on Climate Action).
Complementing this funding is a €6 million technical cooperation package, with the EU contributing €2.38 million in investment grants and the GCF providing €3.62 million. The program aims to strengthen green lending practices within BOA while encouraging businesses to adopt sustainable solutions.
Supporting Women-Led Businesses and Capacity Building
Beyond climate investment, the initiative places emphasis on gender-responsive finance. It will provide training for BOA branch staff to enhance their capacity in inclusive green finance, ensuring women-led enterprises gain equal access to funding. The program will also conduct awareness sessions to accelerate private-sector investments in sustainable energy.
EBRD’s Commitment to Morocco’s Sustainable Development
Morocco has been a founding member of EBRD since 2012, and the bank has invested €5.4 billion across 117 projects in the country. BOA, Morocco’s third-largest bank, plays a critical role in driving green finance, with €113 million in green loans already extended under EBRD partnerships.
This latest financing reinforces Morocco’s efforts toward climate resilience, fostering a greener private sector while advancing global sustainability commitments.
