King Mohammed VI Urges Moroccan Banks to Boost SME Lending and Economic Growth

"We also urge the national banking sector to a firmer commitment, to a more vigorous positive involvement in the development dynamic that our country is experiencing." This is the request of King Mohammed VI to Moroccan banks.

In this sense, the Sovereign has asked banks to support "income-generating activities and socio-professional integration" because "the efforts of the State are not enough".

"To this end, we invite the Government and Bank Al-Maghrib, in coordination with the Professional Group of Banks of Morocco, to work on the development of a special program to support young graduates, to finance self-employment projects," he said.

For the Sovereign, this program will be structured around three axes. The first is to promote access to bank loans for as many qualified young people with projects and from different social backgrounds, to enable them to engage in entrepreneurship and have the best chances of success.

Then, it would be necessary to support small and medium-sized enterprises specialized in export activities, in particular towards Africa, and to allow them to capture a part of the added value generated for the benefit of the national economy.

Finally, it is a question of facilitating access to banking services and opportunities for professional and economic integration, for all citizens in general, and for workers in the informal sector in particular.