Baku, Azerbaijan, April 9. The European Bank
for Reconstruction and Development (EBRD) is providing a loan of up
to 23.5 million euros, in local currency, to Finéa to support
micro, small, and medium-sized enterprises (MSMEs) in Morocco,
Trend reports.
The financing, backed by first-loss risk cover from the European
Union’s European Fund for Sustainable Development Plus (EFSD+),
will be on-lent to private MSMEs. It aims to improve their access
to public and private tenders in sectors such as municipal
lighting, public services, and infrastructure.
The loan is part of the EBRD’s earthquake response facility
launched after the September 2023 earthquake. While focusing on
businesses in affected regions, it will also support MSMEs in
underserved areas outside Casablanca and Rabat.
A technical assistance package will accompany the loan to help
Finéa develop and integrate a digital platform for new factoring
and supply-chain financing products.
Finéa, established in 1950 and a subsidiary of Morocco’s
state-owned Caisse de Dépôt et de Gestion (CDG), supports MSMEs
through financing and tender-related services. As of the end of
2023, its total assets stood at 216 million euros.
Since 2012, the EBRD has invested over 5.3 billion euros in
Morocco across 112 projects.