Morocco’s Tourism Transport Sector Seeks Massive Loan Deferrals Amid Economic Strain

Given the large number of files to be processed, the banks and finance companies have put in place the necessary human and technological resources to respond to them at the level of their branches in all regions of the kingdom, said the Professional Group of Banks of Morocco (GPBM) and the Professional Association of Finance Companies (APSF) in a joint press release.

Tourist carriers and short-term rental companies have taken advantage of the measures developed by the Economic Monitoring Committee (CVE), particularly the one relating to the deferral of credit maturities, in accordance with the eligibility criteria provided for by this Committee, the GPBM and the APSF specified, adding that several exchanges have taken place with the National Federation of Tourist Transport of Morocco in order to find solutions adapted to the present situation.

"It is in this same spirit that this constructive dialogue remains open to examine with the National Federation of Tourist Transport of Morocco the list of requests filed with the relevant financing bodies and not satisfied on the basis of the criteria provided for and published by the CVE," the same source stressed. As for the demands not related to the members of the GPBM and the APSF, they will be submitted to the CVE instances for examination, the press release concluded.