RABAT, Jan. 24 (Xinhua) -- Morocco and European Bank for Reconstruction and Development (EBRD) signed Wednesday in Rabat a Memorandum of Understanding on green projects financing.

The MoU was inked by the Moroccan Minister of Economy and Finance Mohammed Boussaid, and EBRD Vice President Pierre Heilbronn.

The deal targets local small and medium-sized enterprises (SMEs) which in implementing their green projects with the aim to boost green economy financing in Morocco.

Heilbronn is on visit to Morocco from 24 to 29 January for meetings with the government.

Morocco is a founding member of the EBRD and became a country of operations in 2012.

To date, the Bank has invested nearly 1.9 billion U.S. dollars in 36 projects in the country.

The bank has also supported close to 400 Moroccan SMEs by providing business advisory services.