EBRD loans Morocco’s Credit Agricole $20 million to support exporters and importers

The European Bank of Reconstruction and Development (EBRD) loaned $20 million to Moroccan bank Credit Agricole du Maroc to support exporters and importers.

The loan is meant to provide cash for «pre-export and post-import financing and for local distribution», the bank said.

Credit Agricole du Maroc is a member of the EBRD’s Trade Facilitation Program (TFP), which has been responding to the consequences of the pandemic in 2020.

The same bank received, last week, a €200 million loan from the European Investment Bank to support funding for agricultural projects.