Provision of a EUR 20m unsecured loan under the Morocco Youth in Business programme to CIH Bank (Credit Immobilier et Hotelier, "CIH"). The proceeds of the loan will be on-lent to local private enterprises led or owned by youth.
The project is expected to increase the pool of financing available to young individuals in Morocco, and help this group of borrowers build their skill-set and develop their businesses, thereby promoting youth entrepreneurship and participation in business through an integrated approach.
ETI score: 66
The project supports the inclusive and competitive transition impact qualities by expanding youth MSMEs' access to finance, enhancing CIH's capacity to better meet the specific needs of this target group and providing young people with the relevant skills and knowhow to grow their businesses.
CREDIT IMMOBILIER ET HOTELIER SA
Credit Immobilier et Hotelier, S.A., which trades under the name of CIH Bank ("CIH"), is a universal bank listed on the Casablanca Stock Exchange (CSE). Its main shareholder is Massira Capital Management, a fully-owned subsidiary of the Caisse de Depot et de Gestion ("CDG").
EBRD Finance Summary
Total Project Cost
The project offers a combination of medium-term financing and technical expertise into a package that promotes targeted investment in youth led/owned businesses in Morocco. CIH will benefit from targeted TC that will enhancing its capacity to better meet the specific needs of this target group.
Environmental and Social Summary
Categorised FI (ESP 2014); CIH Morocco is an existing client and required to comply with EBRD's Performance Requirements 2, 4 and 9, and adopt and implement the EBRD's Environmental and Social Procedures for Corporate, SME and Micro Loans. CIH's Environmental and Social performance will be monitored through the review of the Sustainability Index report on an annual basis. The Youth in Business line is overall considered low risk. EBRD will work with CIH to put in place an Environmental and Social Management System that is appropriate for the type of investments under this transaction.
Technical Cooperation and Grant Financing
The Youth in Business loan will be accompanied by the following TC components: (1) capacity building for CIH that aims to assist with product implementation, marketing and general awareness raising, training and pipeline development; and (2) Capacity building to eligible sub-borrowers in the form of training and mentoring, with the aim of strengthening entrepreneurial skills and mind-set via EBRD's Advice for Small Businesses programme. The TC is expected to be funded by the grant resources from the EBRD Shareholder Special Fund ("SSF").
Company Contact Information
+212 5 22 47 94 28
187 Ave Hassan II, Casablanca 20000
PSD last updated
05 Jul 2021
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Independent Project Accountability Mechanism (IPAM)
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