PROJECT

Projects

Summary of Investment Information

Project Number

49151

Company Name

CREDIT DU MAROC SA

Date SPI Disclosed

Nov 22, 2023

Country

Morocco

Region

Africa

Projected Board Date

Dec 22, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 2, 2024

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Dec 21, 2023
Signed : Dec 29, 2023
Invested : Apr 30, 2024

Sector

Commercial Banking - General

Project Description

The proposed investment consists of a senior unsecured loan of up to US$100 million equivalent, denominated in US dollars (USD) or in Euros (EUR), to Crédit du Maroc (“CdM” or the “Bank”). The loan will have a maturity of up to 5 years. The proposed financing will enable the Bank to boost its lending operations to Small and Medium-Sized Enterprises (“SMEs”) and to climate sub-projects in Morocco.

Associated Advisory Engagement

Crédit du Maroc and IFC are considering IFC’s advisory services to support the Bank on SME and climate finance.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation