(Ecofin Agency) - Morocco’s trade and industry bank (Banque marocaine pour le commerce et l'industrie) BMCI has requested a €60 million ($67.3 million) line of financing from the European Bank for Reconstruction and Development (EBRD) to support export-import companies in the country.

Funds will be granted through the Trade Facilitation Program, set up by the EBRD 20 years ago, which eases and promotes international trade to and from EBRD countries of operations.

As a reminder the local subsidiary of the French BNP Paribas group recently benefited from a program that supports ecological projects and women-led initiatives in the country.

According to statistics on foreign trade issued at the end of March 2019 by the Moroccan Exchange Office, exports by Moroccan firms increased by MAD2.9 billion while imports increased by MAD1.8 billion.

Chamberline Moko