The Banque Centrale Populaire (BCP) Group and the African Development Bank Group (ADB) signed a $ 100 million Risk Participation Agreement (APR) on Tuesday, May 8, 2018.
“This risk sharing program, which is a first in the Moroccan banking sector, would allow the realization of a transaction volume estimated at 700 million USD for three years,” said the BCP in a statement.
Through this partnership, BCP and AfDB are joining forces to boost intra-African trade in key sectors, such as industry, agri-food, health and services.
This agreement meets the growing needs for trade finance between Moroccan operators and companies on the continent, which represent a major lever for financial integration in Africa.
“Our partnership with the AfDB is perfectly in line with one of the priority areas of our strategy, which aims to actively support the development of intra-African trade, by providing Moroccan companies with appropriate financing mechanisms,” he said. this title, Kamal Mokdad, General Manager of the BCP Group in charge of International.
For his part, Mohammed El Azizi, Director General of the African Development Bank for North Africa, said that “this partnership with BCP will help unlock the growth potential of intra-African trade, which is an important vehicle for regional integration. “This agreement will be a real catalyst for investment and job creation,” he adds.
