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.