US Invests $100 Million to Boost Moroccan Small Businesses

In a press release, the CEO of the International Development Finance Corporation (DFC), Adam Boehler, announced a financial collaboration with the Small Enterprise Assistance Funds (SEAF Global). With a total amount of $100 million, the objective of this partnership is to support Moroccan small businesses, focusing on market opportunities and especially on the chronic problems of the country that need to be solved by local entrepreneurs.

This investment is more aimed at small and medium-sized enterprises operating in the fields of agriculture, health, industry, water, sanitation and clean energy. In addition to this partnership, a letter of interest has been signed with the Office Chérifien des Phosphates (OCP) to support projects that will facilitate agricultural productivity in sub-Saharan Africa.

To recall, last December, the US international development finance company had announced ambitious actions aimed at mobilizing $5 billion through commercial and investment agreements in Morocco and other North African countries.

This program aims to continue the investment promotion and entrepreneurship support initiatives put in place by the Moroccan government for inclusive development and job creation. The objective of these actions is to make Morocco the new economic hub of the sub-region. Thus, a branch of the American initiative Prosper Africa will be erected in Rabat for international investments with French-speaking African countries. This branch, a first in the north of the continent, will be established in February 2021.