35 million Euros for the second phase of MorSEFF program (Morocco Sustainable Energy Financing Facility: This is the amount of the loan agreement signed in October 12 between, European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the AFD, on one hand and BMCE Bank of Africa on the other. Josué Tanaka, Managing Director responsible for the operational strategy and planning function within the IBRD, told www.industries.ma that: “We just signed a loan agreement for BMCE Bank of Africa of 35 million euros in cooperation with other institutions such as the EIB and AFD. There is also the European Union that made donations to support technical assistance and development of MorSEFF program “. He added: “This is a second extension for this project, which has previously benefited from a fund that has financed several projects here in Morocco.”
Remember, this loan agreement was signed on the sidelines of the international conference “Creating Green Banking Markets in Africa”, organized by BMCE Bank of Africa Group and the European Bank for Reconstruction and Development (EBRD).
About MorSEFF
MorSEFF is the financing line of sustainable energy for the Moroccan private companies. Developed by the European Bank for Reconstruction and Development (EBRD), in cooperation with the European Investment Bank (EIB), the French Development Agency (AFD) and Kreditanstalt für Wiederaufbau (KfW),MorSEFF allows Moroccan companies to access:
1. loans and leasing for the acquisition of equipment or the realization of energy efficiency projects and renewable energy
2. An investment subsidy of 10% or 15% of the credit
3. Free technical support from assessment to implementation, to verification of the project
4. A local distribution by partner banks, BMCE Bank (and its subsidiary Maghrebail) and Banque Populaire.
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