Casablanca –The European Bank for Reconstruction and Development (EBRD), in close cooperation with the European Union (EU), the Green Climate Fund (GCF), and the Government of Canada, has announced a major green financing initiative to support Morocco’s climate ambitions.
A total of $70 million in green financing will be extended to Banque Marocaine pour le Commerce et l’Industrie (BMCI) to help Moroccan enterprises invest in climate-friendly technologies and sustainable business practices. This landmark agreement is part of the EBRD’s High-Impact Partnership on Climate Action (HIPCA) and aligns with Morocco’s national strategy for decarbonization and climate resilience.
BMCI becomes the first Moroccan financial institution to benefit from the GEFF Plus (Green Economy Financing Facility Plus), a comprehensive package developed by the EBRD to deliver climate-aligned funding and technical assistance. This is the fifth collaboration between EBRD and BMCI and underscores the mutual commitment to advancing green finance in the country.
Breakdown of the funding package:
- $1.9 million contributed by the Green Climate Fund (GCF)
- $2.6 million provided by the Government of Canada
- Remaining financing contributed through EBRD resources
These funds will be disbursed by BMCI through targeted sub-loans to small, medium-sized, and large companies across Morocco. The financing will enable investments in advanced technologies and sustainable operations that lower emissions, reduce environmental impact, and build resilience to climate risks.
“Through this initiative, we are reinforcing our commitment to inclusive and sustainable economic growth in Morocco,” said a spokesperson from the EBRD. “BMCI’s leadership in deploying this finance package will be instrumental in supporting local businesses to transition to green practices and contribute to Morocco’s broader climate targets.”
In addition to financing, the program offers technical assistance and investment incentives funded by the EU and the GCF. These services will help businesses develop viable green projects, ensure proper implementation, and maximize environmental and economic returns.
The initiative is embedded in the EU–Morocco Green Partnership, which focuses on advancing the energy transition, enhancing climate resilience, and supporting sustainable innovation. It reflects the growing role of public–private collaboration in accelerating national climate goals.
Morocco has been a member of the EBRD since its designation as an investee economy in 2012. Since then, the EBRD has invested nearly $5.8 billion across more than 110 projects in Morocco, spanning infrastructure, renewable energy, agribusiness, and financial services.
With this latest program, EBRD and its partners reaffirm their support for Morocco’s efforts to position itself as a regional leader in green finance and climate innovation.
