Morocco’s Loan Guarantee Programs Save 80,000 Small Businesses from Bankruptcy

During the session dedicated to the discussion of the measures taken by Morocco to support companies during the crisis, and the 2021 finance bill, the Minister of Economy Mohamed Benchaâboun indicated that the guaranteed credits put in place as part of the economic recovery plan have reached nearly 50 billion dirhams, and benefited 80,000 companies, especially very small, small and medium-sized enterprises.

In parallel, the draft law that will allow the Mohammed VI Fund for Investment to be endowed with legal personality has been completed and will be presented very soon before the House of Advisors. On this occasion, the objectives, mechanisms and areas of intervention of this Fund and the management of its operation will be addressed.

Moreover, the two guarantee programs Relance TPE and Damane Relance, aimed at supporting Moroccan companies in the resumption of their activity and protecting them from bankruptcy, launched on June 15, have achieved the expected objectives, by supporting Moroccan companies and preserving jobs, Benchaâboun stressed.

To recall, the first program (Relance TPE) benefits micro-enterprises including small vendors, craftsmen, cooperatives and self-employed workers, with an annual turnover of less than 10 million dirhams and guarantees up to 95% of loans. The second program (Damane Relance), on the other hand, benefits small, medium and large companies with a turnover of more than 10 million dirhams and guarantees between 80% and 90% of loans, in order to cover their operating costs, with the possibility of repayment over seven years with a two-year grace period.