Morocco Secures $100 Million OPEC Loan to Boost Financial Inclusion and Economic Recovery

According to a statement from the Fund, this loan is granted as part of the "Financial and Digital Inclusion Program", aimed at supporting Morocco’s reforms to provide transparent and sustainable financial services to households and businesses.

The fund will cover two main objectives. The first is to increase access to financial inclusion by expanding the sources of financing and payment for individuals and micro, small and medium enterprises (MSMEs), as well as providing technologies and supporting alternative financing models and infrastructure.

The second objective is to finance reforms to help (MSMEs) and entrepreneurs seize economic opportunities while promoting economic diversification for youth, women and graduates.

For the Director General of the OPEC Fund, Dr. Abdulhamid Alkhalifa, "this loan, which focuses on financial and digital inclusion, will help empower the most vulnerable and affected populations such as youth, women, small businesses and entrepreneurs, and support the country’s long-term sustainable economic recovery."