EIB Global increases support for Moroccan companies under Tajawouz initiative

  • The EIB has granted CaixaBank a credit line of around MAD 330 million (€30 million) to support Moroccan micro, small and medium-sized enterprises.
  • The financing is part of the Tajawouz initiative to promote the financial inclusion of Moroccan small businesses through specialised financial institutions.
  • It is in line with the Moroccan government’s industrial policy priorities and its plans for integrating micro, small and medium enterprises into global value chains.

The European Investment Bank (EIB), through EIB Global, its new arm for development finance and international partnerships, has signed a finance contract with CaixaBank worth around MAD 330 million (€30 million) to increase support for Moroccan micro, small and medium-sized enterprises (MSMEs). This operation is part of the Tajawouz initiative to help commercial banks reach more micro, small and medium businesses so that they can benefit from a wider range of financing options on the most favourable borrowing terms. The initiative also supports the objectives of the EU-Morocco Green Partnership signed in October 2022.

CaixaBank will work with micro, small and medium enterprises that have strong ties to Europe and that operate in sectors and value chains that will benefit the economy on both sides of the Mediterranean. It will draw on its expertise and experience in Spain to bring innovative financing products for small businesses to the Moroccan market.

This operation is fully in line with the Moroccan government’s policy for supporting small businesses and its industrial development programme. The programme promotes the importance of integrating Moroccan companies into global value chains while enhancing their technical, environmental, social and governance standards and productivity. The financing will also help to better meet the standards and requirements of European consumers, making Moroccan companies more competitive.

The loan will enable the Moroccan branch of CaixaBank to increase its financing in Moroccan dirhams for local suppliers of large Moroccan companies. Additional EU funds can also be used to protect small businesses against foreign exchange risks.

“Many micro, small and medium enterprises in Morocco are struggling to invest and grow. This is why the EIB, through EIB Global, our new development arm for projects outside the European Union, is looking to provide finance and extra support. This will boost the Moroccan economy, financial inclusion and job creation,” said EIB Vice-President Ricardo Mourinho Félix. “With this first loan for the Moroccan branch of CaixaBank, we hope to reach more companies that own or are creating new niches in the market by helping them to access finance and integrate into local and international value chains.”

Ignacio Pino, country manager of CaixaBank Morocco, said: “CaixaBank, Spain’s leading bank, is committed to financing businesses and supporting industry. This is also what we do in Morocco, where we have had a banking licence for 15 years, with three offices in the cities of Casablanca, Tangier and Agadir. We are proud that the EIB has entrusted us with this first loan, which we hope will be of great help in the day-to-day running of Moroccan micro, small and medium enterprises.”

Background information

European Investment Bank

The EIB has been a key partner for Morocco for more than 40 years. It finances the development and implementation of important projects in vital sectors of the Moroccan economy such as business support, agriculture, water and sanitation, education, health, transport and even renewable energy.

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance. It is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world.




CaixaBank is the leading financial group in Spain and one of the top banks in Europe, with an asset volume of more than €590 billion. As the owner of BPI, it also has a strong presence in Portugal. The group has more than 20 million customers and the largest network of branches and ATMs in Spain and Portugal. It is also the leading online bank, with more than 11 million online customers.

CaixaBank obtained its banking licence in Morocco in 2009 and now has three branches in Casablanca, Tangier and Agadir. It offers foreign trade and corporate banking services to Spanish companies established in the country or seeking to enter the Moroccan market, as well as to large Moroccan and multinational companies.


Source: EIB