Morocco’s Central Guarantee Fund Reports Tripled Loan Activity Amid Economic Challenges

Speaking during a webinar on the theme "2020 Review and Outlook for Recovery in Morocco", Mr. Zanati Serghini said that "in this difficult context marked by an unprecedented period of business cessation, we are ending the year 2020 with 3 times more than what we usually do, i.e. with 85,000 to 86,000 additional loans." However, "our balance sheet remains positive," he said, emphasizing "the transformation of the institution, which is now experiencing a radical change in terms of governance."

Regarding the various recovery mechanisms proposed by the CCG, the official highlighted the "Damane Oxygène" and "Damane Relance" products, not to mention the Guarantee Fund that will help heavily impacted public companies raise funds. The Vice-President of the General Confederation of Moroccan Enterprises (CGEM) and President of the SME Commission, Mohamed Talal, for his part, stressed the current fragility of business sectors.

Thus, for a "serene" but above all "certain" recovery, "it is time to forget the past and turn to the future," supported Mr. Talal, stressing the need to conquer new markets, establish a solid research and development system...

As for Houda Lahrech, Principal Banker at the European Bank for Reconstruction and Development (EBRD), she stressed her institution’s involvement in the recovery, providing an "integrated and rapid" response to the crisis, assuring that the EBRD has set priorities for the Moroccan economic recovery in 2021. The focus will also be on strengthening bank loan portfolios and promoting trade integration and global value chains, she added.