|Approval Date||27 Jun 2018|
|Signature Date||03 Oct 2019|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The proposed operation concerns a credit line of €100 million for the Banque centrale populaire du Maroc (BCP). BCP is a leading Moroccan banking group, a true continental player in private sector financing. The group is present in sub-Saharan Africa through its subsidiary Banque Atlantique. This facility will enable BCP to strengthen its corporate finance activities in the agriculture, education, health and infrastructure sectors in West Africa, mainly in Côte d'Ivoire, Guinea, Mali and Senegal. The line of credit will make a concrete contribution to improving the economic competitiveness of the countries concerned, generating public and export revenues and creating employment opportunities, particularly in labour-intensive sectors such as agriculture. The operation is fully in line with the Bank's key policies and strategies. Aligned with the Bank's 10-year Strategy and Financial Sector Development Policy and Strategy 2014-2019, it addresses two of its five key priorities, Feed Africa and Industrialize Africa. It also promotes regional integration and the development of trade.
The overall objective of this operation is to support the South-South cooperation dynamic led by Morocco. This mechanism will serve as a lever to strengthen productive capacities and boost growth in West Africa, through the financing of private sector development.
The beneficiaries of the operation are mainly the Banque centrale populaire du Maroc (BCP), its subsidiaries in sub-Saharan Africa and companies in the agriculture, education, health and infrastructure sectors in West Africa, mainly in Côte d'Ivoire, Guinea, Mali and Senegal.
African Development Bank
|Last Update||18 Feb 2020|