(Ecofin Agency) - European Bank for Reconstruction and Development (EBRD), the French Development Agency (AFD) and the European Investment Bank granted €35 million to the Banque Marocaine de Commerce Exterieur (BMCE). Led by the EBRD, the program which will benefit from the financing will support energy efficiency projects and small scale renewable energy projects.

Small and medium enterprises, major industrials and commercial firms that develop projects integrating energy efficiency measures or renewables will receive part of the financing secured by BMCE. The program’s developers hope here to progressively push customers of the Moroccan bank toward clean energies.

The financing is the third provided in the framework of renewable energy financing program for Morocco which aims at boosting investment in sustainable energy via financial institutions.

Gwladys Johnson