Morocco’s CIH Bank, EBRD partner to support local business affected by COVID-19

MOROCCO – Morocco’s Crédit Immobilier et Hôtelier, SA (CIH Bank) and the European Bank for Reconstruction and Development (EBRD) have signed a partnership to assist small and medium enterprises (SMEs). Through the partnership, the two financial entities will commit €40 million (US$46.86 million) towards a financial facility that will provide loans to SMEs whose liquidity has been affected by the raging COVID-19 pandemic. EBRD in a statement said that the facility is in line with EBRD’s and CIH’s commitment to strengthening the resilience of Moroccan small businesses and to alleviate…

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