WEC & Bank of Africa – BMCE Group Sign an Agreement

two person in long sleeved shirt shakehand 955395 (1)
two person in long sleeved shirt shakehand 955395 (1)

Photo by Cytonn Photography from Pexels

The World Environment Center (WEC) and Bank of Africa signed early this year an agreement that will enable public and private sectors in Morocco to improve their environmental performance through green technologies, practices and services, addressing air pollution, water, and waste management challenges in the country.

Both parties agreed to work in the identification of environmental pollution drivers and sources, mapping policy assessment options, enable conditions to promote technology adoption, and look for the identification of regulatory or other barriers to technology adoption in the country.

The agreement aims to reach an awareness and understanding of local private sector companies so they can invest in better technologies, foster U.S. providers and develop trainings and roundtables to share and disseminate information to manage tools and best practices. The results will be achieved working in collaboration with relevant key local stakeholders mainly from private and public sectors. WEC also will involve U.S. corporate member companies to foster the use of U.S. green technologies exchanges.

“WEC’s model is to partner with local institutions and experts that are able to build relationships with beneficiaries and to strengthen their own capacity to enable continued implementation long after the funded project term ends. WEC has been working in Morocco since 2010 in different initiatives that helped companies saving costs and resources through cleaner production initiatives,’ said Ernesto Samayoa, director of operations of WEC during the signing of the agreement.

“By sowing this exclusive partnership with the World Environment CenterBank of Africa – BMCE Group continues its journey towards environmental, economic and social impact by developing and offering Sustainable Finance with Technical Assistance from key partners like the WEC to the Moroccan and African markets,” said Brahim Benjelloun-Touimi,  Group Executive Managing Director.

WEC´s funding for the project comes from the United States Department of State’s Bureau of Oceans and International Environmental and Scientific Affairs; it is focused to promote environmental governance through improved practices and technologies in Morocco. WEC is an independent, global, non-profit, non-advocacy organization that advances sustainable development through the business practices of member companies and in partnership with governments, multi-lateral organizations, non-governmental organizations, universities and other stakeholders.

Among the leading pan-African financial groups, Bank of Africa, is a universal banking group with diversified and multi-business focus areas namely commercial banking and investment banking as well as specialized financial services such as leasing, factoring, consumer credit and debt collection.

Bank of Africa is now the most internationally oriented Moroccan banking group with a presence in thirty countries throughout Africa, Europe, Asia and North America.

The Bank of Africa will commit through the agreement to establish specific credit lines for businesses that are willing to participate in the project, disseminate success stories, and promote Best Practices among local companies.

Press release can be found here.