CDB provides loan to BMCE Bank for unspecified purposes (Linked to Project ID#55967)

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. This loan merits further investigation.

Number of official sources

8

Number of total sources

9