EBRD to grant Morocco’s BMCI a €60 million loan

Morocco’s BMCI has sought a €60 million line of financing from the European Bank for Reconstruction and Development (EBRD), news agency for economic and sectorial information ECOFIN reported said on Wednesday.

The fund will be used by the bank to finance Moroccan export-import companies.

The loan will be transferred to the bank through the Trade Facilitation Program, an EBRD body set up to promote foreign trade.

Data quoted by ECOFIN show that exports by Moroccan firms increased by MAD2.9 billion while imports increased by MAD1.8 billion in March 2019.