The European Investment Bank (EIB) and the Banque Centrale Populaire announced the signing of the first guarantee agreement under the European Union (EU) Trade and Competitiveness Programme. One of the main priorities of this programme is to strengthen access to finance for small and medium-sized enterprises (SMEs). This agreement will help improve the competitiveness of Moroccan SMEs, in particular in four key export sectors, namely automotive, textile, agro-industry and agriculture.

The agreement will facilitate SMEs' access to sustainable financing dedicated to improving their export competitiveness, through modernisation and decarbonisation investments, capacity extension financing or working capital needs. The selected companies will benefit from free technical expertise to strengthen their capacities and support their increase in skills on export-related issues.

This is the first agreement concluded under the Trade and Competitiveness Programme, developed by the EIB with EU financial support, which will help to improve the competitiveness of companies and their trading prospects with the EU, allowing local intermediary banks to take more risks and reach targeted segments of the economy.