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        MOROCCO SME PUBLIC SUPPORT COVID-19 RESPONSE

        Signature(s)

        Amount
        € 300,000,000
        Countries
        Sector(s)
        Morocco : € 300,000,000
        Credit lines : € 300,000,000
        Signature date(s)
        25/12/2020 : € 150,000,000
        30/12/2021 : € 150,000,000

        Summary sheet

        Release date
        8 September 2020
        Status
        Reference
        Signed | 25/12/2020
        20200431
        Project name
        Promoter - financial intermediary
        MOROCCO SME PUBLIC SUPPORT COVID-19 RESPONSE
        CAISSE CENTRALE DE GARANTIE
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 300 million
        not applicable
        Location
        Sector(s)
        Description
        Objectives

        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.

        Environmental aspects
        Procurement

        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.

        Under ELM Guarantee

        This operation is covered by the ELM Guarantee.

        Disclaimer

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

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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