EIB To Shore up MSMEs with €330 mln

The European Investment Bank (EIB) provided CaixaBank’s Moroccan branch with a loan of around 330 million MAD (30 million euros) to support Moroccan micro, small and medium-sized enterprises, said EIB.
This fund is part of the “Tajawouz” initiative. It aims to support commercial banks in reaching a larger number of MSMEs, thus enabling them to benefit from a wider choice of financing and optimal borrowing conditions.
The “Tajawouz” initiative also supports the objectives of the Green Partnership signed between the EU and Morocco in October 2022.
The loan will allow CaixaBank’s Moroccan branch to increase its financing in Moroccan dirhams (MAD) for local suppliers of large Moroccan companies.
Moroccan micro, small, and medium-sized enterprises are facing difficulties to invest and develop. This is why the EIB, through EIB World, our new branch dedicated to development outside the EU, has set for itself the objective of financing and supporting them, said EIB Vice-President Ricardo Mourinho Félix.
CaixaBank is the leading financial group in Spain with an asset volume of more than 590 billion euros.