Morocco Launches $600 Million Program to Boost Youth Entrepreneurship

In his speech, the Minister of Finance specified that the program is structured around three main axes, namely the financing of companies, the coordination of support and support operations for companies at the regional level, and finally, the integration into the financing of the inhabitants of the rural world.

The initiative, he added, will provide answers likely to improve the assimilation and overcoming of the obstacles that go against the access of young graduate project leaders to financing.

To this end, and in accordance with the 2020 Finance Bill, a Special Allocation Account, bearing the name "Fund to Support the Financing of the Entrepreneurial Initiative", has been set up and will be credited with an amount of 6 billion dirhams over a period of 3 years. The fund was created as part of a partnership between the State and the banking sector, with equal participation from both parties.

These funds are made available to young graduate project leaders, small and medium-sized enterprises, Moroccan exporters as well as workers in the informal sector, in order to facilitate their professional and economic integration.

Relying on a new integrated incentive system, based on guarantee, financing, capital investment and technical support mechanisms for the benefit of very small, small and medium-sized enterprises, young graduate project leaders, new start-ups and self-entrepreneurs, the fund is also intended for exporting companies, especially to Africa.