CaixaBank secures US$47m from EBRD to boost SME financing in Morocco

MOROCCO – CaixaBank has secured approximately 430 million dirhams (about US$47 million) from The European Bank for Reconstruction and Development (EBRD) to support small businesses in Morocco to withstand the coronavirus pandemic. EBRD in a statement explained that the loan will help CaixaBank increase much-needed funding for local small and medium-sized enterprises (SMEs). In addition, the EBRD explained that it will also support CaixaBank’s expansion strategy aimed at reaching SMEs located outside the Casablanca-Rabat axis. CaixaBank’s branches in Tangier and Agadir are expected to benefit from the EBRD funding and…

Read More