Early Warning System

Countries

Morocco

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Closed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Dec 2, 2026

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Credit Immobilier et Hotelier

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Climate and Environment
Finance

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 30.83 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 27.6
Converted using 2026-10-29 exchange rate.

Project Cost (USD)

$ 33.51 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 29, 2026

Disclosed by Bank Oct 29, 2026

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, the project involves the provision of a senior unsecured loan to Credit Immobilier et Hotelier ("CIH"), of up to EUR 30 million, as part of a EUR 55m "GEFF +" Package (including also up to EUR 25 million GEFF III loan). Up to EUR 2.4 million is expected to be co-financed by Canada through the multi-donor fund High-Impact Partnership on Climate Action ("HIPCA Canada"). A comprehensive Technical Cooperation support for this operation will be funded by the European Union as part of the Morocco Decarbonisation and Climate Resilience ("MDCR"). The proceeds of the loan will be used by CIH for on-lending to private companies to finance their climate change mitigation and adaptation investments.

The project will promote a green economy in Morocco by supporting eligible private sector Corporates implementing mid-size climate-resilient investments. The project will specifically target, among other things: mid-size renewable energy investments, mid-size industrial energy efficiency projects (such as energy efficiency upgrading of industrial sites), green buildings, eligible private sector investments in the municipal infrastructure sector, as well as climate adaptation projects (such as wastewater treatment or water desalination) and circular economy investments.

TRANSITION IMPACT

ETI score: 60

Transition impact is expected to derive from the Green quality under the Morocco MidGEFF Framework. The Framework and the proposed transactions will promote the transition to an environmentally sustainable, low-carbon and climate-resilient economy in Morocco.

CLIENT INFORMATION

Established in 1920, CIH Bank is one of Morocco's leading banking institutions, historically specialising in real estate and hospitality financing. Over the years, CIH has evolved into a universal banking group, currently ranking as Morocco's fifth-largest bank by total assets. The Bank offers a broad range of banking and financial services, supported by a nationwide network of 437 branches and 1,221 ATMs as of YE2025.

CIH Bank has developed solid expertise in sustainable finance, contributing to Morocco's energy transition. This commitment is reflected in its partnership with the EBRD under the GEFF II programme, through which the bank has supported investments in energy efficiency and renewable energy. Building on this experience, CIH aims to further expand its green financing offering, integrating sustainability into its financing activities and helping Moroccan businesses transition towards more sustainable and climate-resilient operations.

EBRD FINANCE SUMMARY

EUR 27,600,000.00

TOTAL PROJECT COST

EUR 30,000,000.00

ADDITIONALITY

The project offers a combination of (i) long-term financing and (ii) technical assistance into a comprehensive package that promotes private sector mid-size green, low-carbon and climate-resilient investments.

ENVIRONMENTAL AND SOCIAL SUMMARY

Categorised FI (ESP 2024). Eligible sub-projects financed through CREDIT IMMOBILIER ET HOTELIER SA (CIH) under the MidGEFF facility are expected to present overall low to medium environmental and social (E&S) risk. The main E&S risks relate to CIH's capacity to identify, assess and manage E&S risks associated with its financing activities and the potential impacts of underlying sub-projects, including larger renewable energy investments. E&S due diligence confirmed that CIH is developing an environmental and social management system (ESMS) that is expected to be commensurate with the E&S risks associated with the portfolio of sub-projects supported under the facility. CIH publicly discloses information on its ESMS in accordance with the EBRD Environmental and Social Policy (2024).

TECHNICAL COOPERATION AND GRANT FINANCING

The facility is accompanied by a technical assistance package for project preparation, implementation, verification, and monitoring, as well as capacity-building for the benefit of CIH, funded by the European Union as part of the Morocco Decarbonisation and Climate Resilience ("MDCR").

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Financial Intermediary

A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

CREDIT IMMOBILIER ET HOTELIER (Financial Intermediary)

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Fouzia Mimi
Fouzia.Mimi@cihbank.ma
https://cihbank.ma/
187, Avenue Hassan II, Casablanca 20000, Maroc

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html