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    Reference: 20200431
    Release date: 8 September 2020

    Promoter – Financial Intermediary




    A loan to the Kingdom of Morocco, through the Moroccan Ministry of Economy and Finance (MEF), to support a guarantee scheme for new loans to micro, small and medium-sized enterprises (MSME) as the Final Beneficiaries and Caisse Centrale de Garantie (CCG) as the Promoter. The MEF uses the loan to support CCG's liquidity buffer enabling provision of guarantees to Financial Intermediaries.


    The project will contribute to mitigate the negative economic effects of COVID-19 on micro, small and medium-sized businesses. It will support the public guarantee scheme to encourage new loans to MSMEs.


    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Proposed EIB finance (Approximate amount)

    EUR 300 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    The Bank will require the promoter to take all the requisite measures to ensure that the procedures carried out by the final beneficiaries for the sub-projects receiving Bank financing will comply with national legislation and the ElB's Environmental and Social Standards


    The Bank will require the promoter to take all requisite measures to ensure that any procurement procedures carried out by final beneficiaries for the sub-projects that the Bank finances are in accordance with the Bank's Guide to Procurement.


    Signed - 25/12/2020


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Morocco Credit lines