GCAM, EBRD join forces to finance earthquake recovery and green economy in Morocco

The Crédit Agricole du Maroc Group (GCAM) and the European Bank for Reconstruction and Development (EBRD) signed a Memorandum of Understanding (MoU) Wednesday, February 14, pledging to collaborate on post-earthquake reconstruction, green finance, and financial inclusion in Morocco.

The agreement, signed by GCAM Chairman Mohammed Fikrat and EBRD Director General for Financial Institutions Francis Malige, establishes a framework for cooperation in several key areas, GCAM said in a press release sent to Yabiladi.

A dedicated financing line will support economic activities in regions hit by the September 2023 earthquake. The partnership will promote sustainability, particularly in agriculture, food production, renewable energy, and environmental projects.

GCAM and EBRD will work together to bring financial services to underserved populations and regions, leveraging digitalization. The program aims to help Moroccan companies integrate into global value chains.

This MoU aligns with Morocco's national financial inclusion strategy and reflects both institutions' commitment to the country's sustainable development. It builds upon their existing collaboration, further boosting Morocco's economic prospects.