EBRD and partners extend €65 million green financing to BMCI

Wednesday 07 May 2025 - 08:20

By: Dakir Madiha

EBRD and partners extend €65 million green financing to BMCI

BMCI is set to become the first bank in Morocco to receive a comprehensive €65 million Green Economy Financing Facility (GEFF) Plus package, marking the EBRD’s fifth partnership with the institution since Morocco became an investee economy in 2012.

The European Bank for Reconstruction and Development (EBRD), in collaboration with the European Union (EU), the Green Climate Fund (GCF), and Canada, is providing this substantial green financing to Banque Marocaine pour le Commerce et l’Industrie (BMCI). This funding comes through the EBRD’s High-Impact Partnership on Climate Action (HIPCA) and is part of the EU-backed Morocco Decarbonisation and Climate Resilience program.

The collaboration aims to accelerate Morocco’s green transition and promote sustainable investment across the nation. The financing package includes €1.75 million from the GCF and €2.4 million from Canada, designated to support climate projects within small, medium-sized, and larger enterprises.

BMCI will distribute these funds through sub-loans to Moroccan businesses, enabling them to invest in advanced climate technologies and sustainable business practices. In addition to this financial support, BMCI will benefit from a technical assistance program and investment incentives funded by the EU and GCF. These resources will help the bank effectively deploy the funds and maximize the impact of the green initiative.

The dual financing structure consists of two distinct loans. The first is a €35 million credit line, which includes the €1.75 million GCF contribution, targeting small and medium enterprises for climate mitigation and adaptation investments. The second loan, amounting to €30 million with €2.4 million from Canada through HIPCA, supports medium-sized climate investments by private Moroccan companies.

Target sectors for this initiative include small-scale renewable energy, energy efficiency, green buildings, circular economy, climate adaptation investments focusing on water efficiency, sustainable land management, digitization, and blue economy investments.

According to the EBRD, BMCI, operating in Morocco since 1943, is positioning itself as a key ally in environmental protection within the banking sector. The institution offers “green packages” with advantageous terms for financing ecological equipment and initiatives.

The Green Partnership between Morocco and the EU emphasizes energy transition, climate resilience, and decarbonization to foster sustainable economic growth. Since Morocco became an EBRD investee economy in 2012, the bank has invested nearly €5.4 billion in the country through 113 projects.