EBRD backs Bank of Africa with €70m to boost climate finance in Morocco
The package includes two senior unsecured loans of €35 million each, one from the GCF and the other co-financed by HIPCA. It aims to support Moroccan private companies, including MSMEs, in investing in climate adaptation and mitigation technologies.
A €6 million technical cooperation package will accompany the financing, with the EU and GCF contributing €2.38 million and €3.62 million respectively. It will help BOA strengthen green lending practices, train staff on gender-responsive climate finance, and promote equal access for women.
«This facility will expand and accelerate investments in sustainable energy», said the EBRD, noting BOA's pivotal role in green finance, with €113 million in green loans already disbursed.
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