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The EBRD and the GCF will support SMEs to implement green projects in Morroco.
- This is part of the Maghreb nation’s Green Value Chain (GVC) programme supported by the GCF, The EU and the South Korean Government.
The European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) will provide $10 million in support for developing green projects in Morocco. The funds will be used for green projects implemented by small and medium-sized enterprises (SMEs).
The EBRD will provide $7.5 million of the total sum with the GCF providing the remaining $2.5 million. The Bank of Africa’s leasing subsidiary Maghrebail will be in charge of dispensing the funds.
According to the EBRD, Tthe funds will be beneficial to SMEs that intend to develop “energy efficiency and resource efficiency projects and to develop their participation in regional value chains”. The EBRD also noted that “the green solutions deployed will help SMEs to increase their competitiveness and access new markets. The proposed solutions include the adoption of green technologies that will enable Moroccan SMEs to achieve higher productivity while reducing their energy consumption.”
The EBRD is part of Moroccos’ Green Value Chain (GVC) programme that supports SME investment in energy efficiency and measures integrated into regional value chains.