Client: European Bank for Reconstruction and Development
Duration: 2013-2020
Region: Sub-Saharan Africa
Country: Morocco
Solutions: Environment
Like with its successful PolSEFF and WebSEFF projects in Poland and the Western Balkans, the European Bank for Reconstruction and Development (EBRD), in cooperation with the French Agency for Development, European Investment Bank, and KfW Development Bank, has extended credit lines to local partner financial institutions in Morocco that then on-lend to their clients. These clients—small business and corporate borrowers—use this financing to invest in efficient and renewable energy equipment and services that decrease their carbon footprints and improve their bottom lines.
The €110 million allocated to MorSEFF includes financial contributions from EBRD, Agence Française de Développement (AFD), Kreditanstalt für Wiederaufbau (KfW), the European Investment Bank (EIB), and the European Union (EU). Those funds were on-lent to industrial companies willing to invest in green-energy equipment and complemented by EU-funded technical assistance or grants to participating companies.
Investments supported by MorSEFF resulted in 207,289-megawatt hours of annual energy savings and helped avoid 102,725 tons of CO2 equivalent emissions annually.
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