The European Bank for Reconstruction and Development (EBRD) approved on Thursday a $100 million loan to Moroccan “Banque Centrale Populaire (BCP) to support local small businesses affected by the coronavirus pandemic. In Morocco, the EBRD is one of the first financial institutions to develop adequate financial and advisory instruments to alleviate the impact of the pandemic on the economy. BCP is the second largest bank in Morocco in terms of lending. It offers a wide range of retail, corporate and investment banking services with a strong focus on micro, small and medium-sized enterprises. Since 2012, the European bank has invested €2.4 billion in 65 projects carried out in the North African Kingdom.

Source: The North Africa Journal July 23, 2020 12:00 UTC