Morocco’s BCP Bank Gets $100 Mln Loan from EBRD to Mitigate COVID-19 Impact

Print
 
Jul 2020
Morocco, July, 23 2020 - BCP will extend EBRD funds to corporations and small and medium-sized enterprises that are experiencing a decrease in activity, turnover and profitability to help them address liquidity needs.

The European Bank for Reconstruction and Development (EBRD) approved on Thursday a $100 million loan to Moroccan “Banque Centrale Populaire (BCP) to support local small businesses affected by the coronavirus pandemic.

The loan is the second to the country under the EBRD Solidarity Package, set up to meet the immediate short-term financing needs of existing clients and to strengthen the resilience of the financial sector during the coronavirus crisis.

BCP will extend EBRD funds to corporations and small and medium-sized enterprises that are experiencing a decrease in activity, turnover and profitability to help them address liquidity needs.

In Morocco, the EBRD is one of the first financial institutions to develop adequate financial and advisory instruments to alleviate the impact of the pandemic on the economy.

BCP is the second largest bank in Morocco in terms of lending. It offers a wide range of retail, corporate and investment banking services with a strong focus on micro, small and medium-sized enterprises.

Morocco is a founding member of the EBRD. Since 2012, the European bank has invested €2.4 billion in 65 projects carried out in the North African Kingdom.



 

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More