CaixaBank y el Banco Europeo de Reconstrucción se lanzan al rescate de las pymes en Marruecos

CaixaBank and the European Bank for Reconstruction (EBRD) are launching a campaign to rescue SMEs in Morocco, which have been hit hard by the coronavirus pandemic. The development bank will provide a 40 million euro loan (equivalent to about 430 million dirhams) to the branch of CaixaBank in the North African country to provide credit to the company.

The EBRD loan will enable CaixaBank to finance local small and medium-sized enterprises, which have been severely affected by the pandemic. In addition, the EBRD will also support CaixaBank's expansion strategy to SMEs located outside the Casablanca-Rabat axis, which represent 70% of the Moroccan economy, as CaixaBank's branches in Tangier and Agadir will provide them with more services.

CaixaBank is the leading retail banking financial group in Spain and the entity obtained its banking license in Morocco in 2009, where it now has branches in Casablanca, Tangier and Agadir. Since then it has become one of the main players in the country. Almost 60% of the 600 Spanish companies operating in Morocco are CaixaBank clients. 

Morocco is one of the founding members of the EBRD and became a country of operations in 2012. To date, the Bank has invested around EUR 2.4 billion in the country through 65 projects. Spain is also a founding member of the EBRD and, since 1992, an EBRD donor with a contribution of more than EUR 104 million.