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Societe Generale in Africa

News

03/06/2019

A green credit line for the climate

Strengthening SMEs’ competitiveness in global value chains

Société Générale Maroc and the European Bank for Reconstruction and Development (EBRD) step up support for SMEs in Morocco through green investments’ financing and value chains development. Indeed, the EBRD granted Société Générale Maroc a loan of EUR 20M to support green projects backed by SMEs participating in value chains and/or industrial ecosystems. This funding line falls within the scope of the GEFF initiative (Green Economy Financing Facility) designed to support energy efficiency and renewable energies projects. Société Générale Maroc is the first partner of this program and this agreement reinforces its partnership established with the EBRD since 2012.

The loan, financially supported by the European Union and the Green Climate Fund, aims at strengthening SMEs’ inclusion in global value chains.

The eligible SMEs will thus enjoy an attractive accompaniment including a funding, an investment subsidy and a technical expertise which will check and optimize the green funding project’s viability. Green equipment’s acquisition will allow them to offer more competitive products, to increase exports and access new markets through connecting with international companies.

Fostering green economy is the EBRD’s priority. Since the launch of its activities in Morocco in 2012, the EBRD has financed 52 projects that are worth EUR 1.8M and offered management consultancy services to over 550 Moroccan SMEs.