Crédit Agricole du Maroc secures $1m grant from AfDB to fund eco-friendly projects
Moroccan state-owned bank Crédit Agricole du Maroc has secured a $1m grant from the African Development Bank (AfDB) for financing eco-friendly projects in vital sectors.
The grant aims to support sustainable agriculture, improve water management, increase the use of clean energy and help to build resilient infrastructure, according to an AfDB statement.
Despite the name similarity, Crédit Agricole du Maroc is not part of French international banking group Crédit Agricole.
Since 1978, the AfDB, a multilateral development institution headquartered in Abidjan, Ivory Coast, has provided about $18bn for more than 150 projects in Morocco in sectors such as transport, water, sanitation, energy, agriculture and finance, according to the statement.