Coronavirus : EBRD gives US$100mn loan to Morocco’s Banque Centrale Populaire

The European Bank for Reconstruction and Development (EBRD) has provided US$100 million loan to Morocco’s Banque Centrale Populaire (BCP) to respond to the Covid-19 crisis and lend local private businesses.

According to African Review, the loan is part of EBRD’s Solidarity Package, created to meet the needs of existing clients and help the financial sector during the current health crisis.

BCP is expected to use the loan as a fund for small and medium-sized enterprises that have been affected by the coronavirus crisis.

In April, EBRD said that it lent Morocco’s Bank of Africa 145 million euros to support small businesses affected by the coronavirus crisis. The loan is part of the 1 billion euros plan launched by EBRD to help its clients manage the economic consequences of the pandemic.