EBRD grants €50 million loan to support Moroccan MSMEs affected by earthquake

The European Bank for Reconstruction and Development has approved a €50 million local currency loan to Crédit Agricole du Maroc, aimed at supporting micro, small, and medium-sized enterprises in Morocco. The initiative will primarily focus on areas affected by the September 2023 earthquake, with 65% of the funding allocated to these regions.

The loan agreement was signed in Rabat by EBRD President Odile Renaud-Basso and CAM President Mohammed Fikrat, with Agriculture Minister Ahmed Bouari present. This agreement follows a memorandum of understanding between the two institutions from February 2024, focusing on financing access, financial inclusion, and green economy cooperation.

The funding aligns with Morocco's «Génération Green» strategy, which prioritizes rural entrepreneurship and MSME development. The loan will provide essential liquidity for businesses to maintain and rebuild their operations in earthquake-affected areas, supporting job creation and economic resilience.

This investment adds to EBRD's significant presence in Morocco, which began when the country became an operational partner in 2012. The bank has since invested nearly €5 billion across 106 projects in Morocco, with over 77% directed to the private sector. Additionally, EBRD has provided EU-funded advisory support to more than 1,000 SMEs in the country, reinforcing its commitment to Morocco's economic development.