Credit Immobilier et Hotelier secures US$29m from EBRD, GCF, EU to support green economy

MOROCCO – The European Bank for Reconstruction and Development (EBRD), supported by the Green Climate Fund (GCF) and the European Union (EU), is providing a financial package of up to €25 million (US$29.20m) to Credit Immobilier et Hotelier (CIH Bank) to support Morocco’s green transition. The financing, of which a total of €18.75 million (US$21.90m) will be provided by the EBRD and €6.25 million (US$7.30m) by the GCF, will be extended as sub-loans by CIH Bank to local citizens, small and medium-sized enterprises (SMEs) and corporates for investments in climate…

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