African Development Bank Grants $120 Million Loan to Boost Moroccan SMEs

According to a press release from the bank, the granting of this financing will allow companies in difficulty to restart their activity and preserve jobs in order to successfully emerge from the crisis related to the Covid-19 pandemic.

The funds will also be used to strengthen the support system for entrepreneurs, start-ups and VSEs, and support the entrepreneurship support ecosystem and contribute to improving the business climate through the simplification of administrative procedures.

The program will support reforms in the area of financial inclusion in order to facilitate access to financing for households and very small and medium-sized enterprises (VSEs), as well as contribute, according to the same source, to diversifying the sources of financing available to them by strengthening the inclusive nature of the capital market.