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EBRD supports three Moroccan enterprises with €300m loans

The European Bank for Reconstruction and Development (EBRD) mobilized €300 million worth of loans to three public enterprises in Morocco to help them recover from the COVID-19 crisis.

The enterprises set to benefit from the loan are the National Company of Highways of Morocco (ADM), the National Airports Office (ONDA) and the National Office for Electricity and Drinking Water (ONEE).

According to a joint press release from EBRD and the Ministry of Economy and Finance, the cooperation with EBRDD is part of efforts undertaken by the ministry to support Public Enterprises and Establishments to counter the impacts of Covid-19 crisis. The ministry is focusing on mobilizing funds for the cash for needs.

The funds will also support technical assistance to help the three entities modernize their governance.

The €300 million loans were signed Morocco’s minister of Economy and Finance Mohamed Benchaâboun on behalf of the three entities.

Benchaaboun …