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    Morocco: Support for Private Sector, Strategic Priority for EBRD (Renaud-Basso)

    26 May 2021

    Casablanca - Support for the Moroccan private sector is a strategic priority of the European Bank for Reconstruction and Development (EBRD), said its president Odile Renaud-Basso, who is making her first official visit to Morocco in virtual format (May 24-25).

    'Since we settled in Morocco in 2012, supporting the private sector has been a strategic priority for the EBRD. We back Moroccan companies, especially very small, small and medium enterprises, with technical assistance through our Small and Medium Enterprises advisory program, financed by the European Union,' Renaud-Basso said in an interview with MAP.

    This year, EBRD president added, this program will focus on SMEs active in the green economy, digital and import substitution.

    For her, having an external advisor is 'very useful' to develop, among other things, the digitalization of the activity, to know how to access the export market. It is a very micro activity with more than 600 companies with which the Bank intervenes.

    'This year, we will continue to support companies directly, but also via our banking partners with a new innovative offer of green financing, since we want to strongly support Morocco in its energy transition,' said Renaud-Basso.

    She also noted that the EBRD, like other development banks, has significantly increased its activity in Morocco during the crisis of Covid-19. 'We had a historic year and this has, of course, helped preserve the economic fabric, which will now contribute to facilitating the economic rebound'.

    In addition, Renaud-Basso said that the support measures undertaken and the recovery plan put in place by the government have enabled the private sector to better withstand the crisis.

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