EBRD, European Union, Green Climate Fund, And Canada Join Forces To Advance Climate Mitigation & Adaptation Projects In Morocco

Representational image. Credit: Canva

The European Bank for Reconstruction and Development, with support from the European Union, the Green Climate Fund and Canada through the EBRD’s High-Impact Partnership on Climate Action, is providing up to €55 million in green financing to SAHAM Bank. This funding, part of the EU-backed Morocco Decarbonisation and Climate Resilience programme, includes €6.25 million from the Green Climate Fund and €2.4 million from Canada to help small, mid-sized and larger companies carry out green projects.

SAHAM Bank will receive a Green Economy Financing Facility Plus package, marking the fourth partnership between the EBRD and SAHAM Bank. The initiative is aimed at accelerating Morocco’s green transition while supporting inclusion and sustainable investment. The financing will be distributed through sub-loans to Moroccan small and medium-sized enterprises, mid-cap companies and larger businesses, enabling them to adopt advanced climate technologies and implement sustainable practices. The structure of the funding ensures tailored financial support for both smaller-scale and mid-sized green investments.

In addition to financing, SAHAM Bank will receive technical assistance and investment incentives funded by the European Union and the Green Climate Fund to ensure effective use of the resources and maximise their environmental impact. This partnership is part of a broader EU–Morocco collaboration that focuses on the energy transition, climate resilience and decarbonisation, helping businesses adopt innovative technologies for sustainable growth.

SAHAM Bank, operating in Morocco since 1913, plays a key role in the country’s economic development. Morocco, a founding member of the EBRD, became an investee economy in 2012, and the bank has since invested nearly €5.4 billion in 113 projects there. Donors to the High-Impact Partnership on Climate Action include Austria, Canada, Finland, Germany, the Netherlands, Norway, South Korea, Spain, Switzerland, TaiwanICDF, the United Kingdom and the United States.