CDB provides $50 million loan to BMCE Bank for on-lending to SMEs

On April 21, 2011, China Development Bank (CDB) and the Moroccan Bank of Foreign Commerce (BMCE Bank or 摩洛哥外贸银行 or البنك المغربي للتجارة الخارجية‎) — a privately owned commercial bank — signed a Memorandum of Understanding (MoU) for the financing of small- and medium-sized enterprises (SMEs) in Morocco. Then, on November 7, 2011, the parties signed a $50 million loan agreement — with a 5 year maturity — to facilitate on-lending to SMEs (captured in Project ID#55967). By May 2012, the CDB loan had fully disbursed and supported 51 Moroccan SMEs. Then on May 17, 2012, CDB issued a second loan to BMCE Bank (captured in Project ID#85298). However, the face value, borrowing terms, and purpose of the second loan are unknown.

Additional details

1. The Chinese project title is 摩洛哥外贸银行转贷项目. 2. The sector code variable has been coded as ‘320 - Industry, Mining, and Construction’ based on the description of CRS Code 32130.

Number of official sources

7

Number of total sources

9