The European Bank for Reconstruction and Development (EBRD) signed on Wednesday, September 23 an agreement to loan Morocco’s Credit Agricole Group (GCAM) $20 million as part of its foreign trade financing line.
A joint press release stated that the non-committed, multi-currency foreign trade financing line intends to “issue guarantees in favor of confirming banks and to provide foreign currency financing intended for commercial transactions of exports or imports,” according to Morocco’s state media.
For more information, please see https://www.moroccoworldnews.com/2020/09/320552/moroccos-credit-agricole-secures-20-million-loan-from-ebrd/
