Morocco’s BCP + AfDB ink trade financing agreement

TRADE-

Morocco’s BCP + AfDB enter USD 70 mn trade financing agreement: Morocco’s Banque Centrale Populaire (BCP) and the African Development Bank (AfDB) have inked a USD 70 mn risk-sharing agreement (RSA) to boost trade across the continent and expand private sector financing, Morocco World News reports. Under the agreement, local African banks will be allocated an overall risk limit, allowing for greater financial inclusion for economic operations with a focus on SMEs. The initiative is set to encourage SMEs to engage in foreign trade and is expected to generate around USD 200 mn in trade.

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