European bank grants Morocco 40-mln-euro loan to support small, medium-sized firms

Source: Xinhua| 2020-08-12 00:37:20|Editor: huaxia

RABAT, Aug. 11 (Xinhua) -- The European Bank for Reconstruction and Development (EBRD) on Tuesday granted Morocco a 40-million-euro loan to finance its small and medium-sized enterprises affected by the COVID-19 crisis, official news agency MAP reported.

The loan is provided for the local bank Credit Immobilier et Hotelier (CIH), MAP said.

The EBRD's funds also aim at improving the export and import transactions of the businesses of Moroccan small and medium-sized enterprises, it added.

Morocco is a founding member of the EBRD, which has invested about 2.4 billion euros in 65 projects across the North African country since 2012. Enditem