With a total amount of EUR 110 million, MORSEFF is the line for financing sustainable energy intended for private Moroccan companies.
Developed by the European Bank for Reconstruction and Development (EBRD), in cooperation with the European Investment Bank (EIB), the French Development Agency (AFD), and the Kreditanstalt für Wiederaufbau (KfW), MorSEFF allows Moroccan companies to access:
- Loans or leasing for the acquisition of equipment or the realization of energy efficiency or renewable energy projects
- An investment subsidy of 10% of the credit
- Free technical assistance for project evaluation, implementation and verification
- Local distribution by partner banks, BMCE Bank (and its Maghrebail subsidiary) and Banque Populaire.
Notes:
The investment grant is financed by donations from the European Union’s Neighborhood Investment Facility (NIF) and the technical assistance by donations from NIF and the Multi-Donor Eligibility:
- Borrowers: private companies (> = 50% of the capital)
- Cumulative financing by the borrower cannot exceed 50,000,000 DH
- Financially viable project
- Sectors: industry, commercial buildings and offices, transport, agriculture
- Technical criteria: Investments enabling at least 20% energy savings (30% for commercial buildings) or a reduction in CO2 emissions of at least 20%, or installation of renewable energy technologies (RE) on a small scale.
Small-scale investment projects:
- Up to 100% of the investment amount; subject to the bank’s decision
- Loans or leasing of up to DH 3,000,000 for the purchase and installation of pre-qualified equipment registered in the List of Eligible Equipment and Materials (LEME), and using an eligible supplier from the LESI list (List of Eligible Suppliers and Installers)
Larger or more complex investment projects:
- Up to 100% of the investment amount subject to the bank’s decision
- Loans of a maximum amount of 50,000,000 DH and leasing of a maximum amount of 10,000,000 DH on a project with a maximum investment cost of 150,000,000 DH.
- Investments requiring more comprehensive technical and financial assessment via the free technical assistance provided by the MorSEFF team of consultants.
Investment projects in new commercial constructions:
- Up to 30% of the investment amount (excluding land); subject to the bank’s decision
- Loans of a maximum amount of 45,000,000 DH on a maximum investment cost of 150,000,000 DH (excluding land)
- Investments requiring more comprehensive technical and financial assessment via the free technical assistance provided by the MorSEFF team of consultants
- Equipment must be selected from the LEME database
- The investments must meet, at a minimum, the requirements of the Moroccan Building Code in force regarding the envelope of new buildings (insulation, windows, etc.) and the use of efficient lighting and solar water heaters.
Loans to equipment suppliers:
- Loans up to 10,000,000 DH used to finance the extension of production and distribution capacity of suppliers (producers, distributors, installers) of energy efficiency (EE) and renewable energy (ER) equipment.
Investment grant:
- 10% of the amount of the MorSEFF loan (or in the case of leasing, of the purchase price of the equipment) paid after verification of the installation of the equipment or the implementation of the project
- Equipment suppliers are not eligible
Free technical support:
- Support for the project consultant from the funding request to the evaluation of the project, its implementation and monitoring
- Verification of project implementation by the independent consultant responsible for verification
Application procedure:
LEME :
This procedure applies to the loan / leasing of a maximum amount of DH 3,000,000 intended for the purchase of new pre-qualified equipment which is part of the LEME database. The duration of the procedure is quick (1 to 2 weeks for a loan and 24 to 48 hours for leasing) depending on the completeness of the information provided by the client and the processing of the request by the bank or leasing company.
- Choose your equipment from the LEME list
- Print the Declaration of Eligibility for the chosen Equipment.
- Complete the credit application form
- Sign the Exclusion List for Environmental and Social Reasons
- Select one of the partner banks participating in the MorSEFF program and submit your request there
- The bank may ask you to provide additional information and documents
- The bank performs its internal solvency check
- If you meet the bank’s lending criteria, you will get a favorable decision
- The bank prepares a loan agreement for signature
- Following the establishment of the conditions between the bank and your entity, the financing for the purchase / installation of the equipment is paid to you
- Fill in the form “Voucher for Project Completion Inspection and Grant Payment Request” and collect the documents showing the completion of the installations (bills and delivery vouchers etc.)
- Submit all documents to the bank
- After reviewing the supporting documents, the consultant responsible for verification examines the documents and confirms the installation of the equipment. The consultant can also visit the site.
- The bank will return the amount of the 10% investment subsidy to you within 2 to 3 months.