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News

BMCE Bank of Africa obtains EUR 145 mln from EBRD for SMEs

Thursday 23 April 2020 15:00 CET | News

Morocco-based BMCE Bank of Africa has secured a EUR 145 million loan from the EBRD to support small- and medium-sized enterprises (SMEs).

 

The ERBD (European Bank for Reconstruction and Development) aims to help Moroccan SMEs experiencing a decrease in activity, turnover, and profitability to address their liquidity needs, as part of the bank’s COVID-19 Solidarity Package.

The European bank is also increasing an existing uncommitted multi-currency trade finance limit by EUR 46.2 million to facilitate export and import transactions. Morocco is, as a result, the first EBRD country of operations to benefit from the bank’s coronavirus Resilience Program Framework.

Source: Link


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Keywords: BMCE Bank of Africa, EBRD, SME, COVID-19, solidarity package, multi-currency trade finance, export and import transactions, coronavirus resilience program framework, Africa, MENA
Categories: Banking & Fintech
Companies:
Countries: Morocco
This article is part of category

Banking & Fintech

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