Renewable energy in Morocco
In October 2016, the EBRD, the Agence Française de Développement (AFD) and the European Investment Bank (EIB) teamed up to strengthen sustainable energy measures in Morocco, with the support of the European Union Neighbourhood Investment Facility (EU NIF). Collectively we provided a €35 million financing facility to BMCE Bank of Africa and its leasing subsidiary Maghrebail.
The finance line is the third under the Morocco Sustainable Energy Financing Facility (MorSEFF), a comprehensive programme for sustainable energy investments through financial institutions.
The proceeds of this EBRD-led facility are dedicated to financing energy efficiency and small-scale renewable energy investments. BMCE Bank of Africa will on-lend to SMEs and corporates in the commercial and industrial sectors, including commercial construction and energy service companies.
BMCE Bank of Africa will also raise awareness among its clients, promoting energy-efficient and renewable energy technologies and strengthening local production.
In addition, comprehensive technical assistance and investment incentives, funded by the EU NIF and by the EBRD Southern and Eastern Mediterranean (SEMED) Multi-Donor Fund*, will provide support to BMCE Bank of Africa in the design of business development tools and the successful implementation of the facility. It will also allow clients of BMCE Bank of Africa to receive support for project implementation, as well as investment incentives, encouraging them to make sustainable energy investments.