The central bank which is the Bank Al-Maghrib, the Central guarantee Fund (CCG) and the professional grouping of Moroccan banks have agreed to establish a fund of financial assistance to very small, small and medium-sized ventures.
The account will co-finance along with the other banks operations meant to re-establish and secure the sustainability of these very small, small and medium-sized ventures which are considered possible, according to a report.
It will also merge, consolidate and protect the said ventures, specifically selling to other countries ones and those operating in the industrial area. Intermediate-size ventures are also entitled for this fund.
The fund’s action will consist in granting a given enterprise a loan of MAD 50 million maximum while the bank’s action could take the form of a contribution to finance restructuring existing loans, operation or investment.
The entire Moroccan banks will be joining in this co-financing procedure.