A loan of up to EUR 20 million to Banque Marocaine du Commerce et de l'Industrie" ("BMCI") to onlend to private sector borrowers (including SMEs) for sustainable energy investments.
The EBRD is considering providing a loan of up to EUR 20 million to Banque Marocaine du Commerce et de l'Industrie" ("BMCI") to on-lend to private sector borrowers (including SMEs) for sustainable energy investments.
The transition impact of the project is expected to derive from promoting the expansion of energy efficiency and renewable energy lending in Morocco. It will have positive demonstration effects particularly with respect to utilising financial intermediaries, for energy efficiency investments.
The project will demonstrate the benefits of rational energy utilisation through improved industrial competitiveness in light of rising energy costs.
BANQUE MAROCAINE POUR LE COMMERCE ET L'INDUSTRIE
BMCI is the 6th largest bank in Morocco with total consolidated assets of EUR 5.1 billion as of December 2017.
EBRD Finance Summary
Loan of EUR 20 million equivalents in local currency.
Total Project Cost
Up to EUR 20 million
Environmental and Social Summary
Categorised FI (ESP 2014). BMCI will be required to comply with PRs 2, 4 & 9, and further, implement and comply with the relevant EBRD's Environmental & Social (E&S) Procedures.
Beneficiaries financed through the Facility will be required to comply with national requirements for environment, health and safety and labour standards and the eligibility criteria for energy efficiency ("EE") and renewable energy ("RE") projects. This will be confirmed to BMCI by a Project Consultant engaged by the EBRD to assess project eligibility.
Company Contact Information
26 Place des Nations Unies, Casablanca, Morocco
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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