Germany Grants Morocco €165 Million for Financial Inclusion and Small Business Support

This amount, which was released by the German development bank KfW with the agreement of the German Federal Ministry for Economic Cooperation and Development BMZ, includes a loan of 150 million euros, in addition to a grant of 15 million euros, says the director of the KfW national office in Rabat, Markus Faschina.

To this end, the official signed with the Minister of Economy and Finance, Nadia Fettah Alaoui, two financing contracts for the loan and the grant. The signing ceremony took place in the presence of the German Ambassador to Rabat, Robert Dolger.

According to a statement from the ministry, this subsidized loan is the complement to an initial tranche of 250 million euros granted in December 2020. Nadia Fettah Alaoui welcomed the continued support of KfW for the reform process undertaken by Rabat to strengthen financial inclusion, capital markets and financial stability.

Regarding the grant, it will allow Morocco to mobilize various technical assistance to support for 3 to 5 years reforms dedicated to financial inclusion issues, promotion and entrepreneurship, capital market development and financial stability, the same source points out.