Latest news with #GEFFPlus
Business Wire
18-07-2025
- Business
- Business Wire
SAHAM BANK Secures €55 Million From EBRD to Boost Green Finance in Morocco
CASABLANCA, Morocco--(BUSINESS WIRE)--SAHAM BANK has reaffirmed its commitment to green finance through a strategic partnership with the European Bank for Reconstruction and Development (EBRD), under the newly launched Green Economy Financing Facility Plus (GEFF Plus). Supported by the Green Climate Fund (GCF), the European Union (EU), and the Government of Canada (through the HIPCA fund), the initiative will mobilize €55 million in funding for SAHAM BANK. This financing will be channeled into two dedicated credit lines aimed at accelerating the green transition of Morocco's private sector. In addition to financial support, the partnership includes technical assistance funded by the EU and GCF, as part of Morocco's Decarbonisation and Climate Resilience Programme. This support will help strengthen SAHAM BANK's internal capabilities in green finance and develop banking products aligned with environmental challenges. This collaboration represents a significant milestone in SAHAM BANK's sustainable development strategy. It underscores the bank's long-term vision to foster a responsible banking model, focused on green growth and sustainable value creation for the Moroccan economy. This operation illustrates the transformation dynamic initiated by the bank following its change of ownership. Its trajectory is guided by the vision of SAHAM GROUP, chaired by Moulay Hafid Elalamy, who is also Chairman of the supervisory Board of SAHAM BANK. A prominent Moroccan economic player, combining strong local roots with an international outlook, SAHAM GROUP currently operates in high-potential sectors such as finance, customer experience, education, agriculture, and real estate. About Saham Bank Founded in 1913, Saham Bank — formerly Société Générale Marocaine de Banques (SGMB) — is one of Morocco's oldest and most respected banking institutions. Over the past century, it has played a central role in the country's economic development. Saham Bank serves a diverse clientele, including individuals, professionals, and businesses, offering a comprehensive range of financial products and services tailored to their needs. The bank remains committed to innovation, service quality, and sustainable development, while continuing to strengthen its position as a key player in the Moroccan banking sector.
Ya Biladi
18-07-2025
- Business
- Ya Biladi
Saham Bank secures €55 million from EBRD to boost green economy in Morocco
Saham Bank has secured €55 million (578 million dirhams) from the European Bank for Reconstruction and Development (EBRD) through a strategic partnership aimed at promoting green economy initiatives in Morocco. The funding falls under the new GEFF Plus (Green Economy Financing Facility) program. The €55 million package, supported by the Green Climate Fund (GCF), the European Union, and the Canadian government via the HIPCA fund, will establish two dedicated credit lines to finance private Moroccan projects focused on energy transition and sustainable development, reads a press release by Saham Bank on Friday. Technical assistance funded by the EU and GCF will accompany the financing and is integrated into Morocco's Decarbonization and Climate Resilience Program. This support aims to strengthen Saham Bank's internal capacities in green finance and help develop climate-aligned financial products. This partnership marks a key milestone in the bank's sustainability strategy since its ownership transition. Originally established in 1913 as a subsidiary of France's Société Générale, the bank was acquired by Morocco's Saham Group in April 2024 and officially rebranded as Saham Bank in June 2025.
