Post-earthquake reconstruction: GCAM and EBRD sign memorandum of understanding

Hibapress

The Crédit Agricole du Maroc Group (GCAM) and the European Bank for Reconstruction and Development (EBRD) have signed a Memorandum of Understanding (MoU) to promote access to financing in the areas of post-earthquake reconstruction, financial inclusion and the green economy in Morocco.

Signed by the Chairman of the Board of Directors of GCAM, Mohammed Fikrat, and the Director General, Financial Institutions of the EBRD, Francis Malige, this partnership establishes a global framework of cooperation between the two institutions focusing mainly on financing mechanisms, including the implementation place of a financing line to accompany and support economic activities in the regions affected by the earthquake of September 8, 2023, indicate the two parties in a joint press release.

This memorandum of understanding is also based on financial support for the transition to a green economy in Morocco, particularly in the agricultural and agri-food sectors, renewable energy and environmental protection projects, support for financial inclusion and the digitalization of disadvantaged populations and regions, and support for exporting companies to contribute to better integration of value chains, specifies the same source. This agreement is part of the national financial inclusion strategy and confirms the common desire of the two parties to strengthen their cooperation in favor of the economic and sustainable development of the Kingdom of Morocco. It also consolidates the fruitful collaboration between the two institutions, established for years.

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