Morocco boasts a dozen micro-credit associations, which have granted 2 million micro credits amounting to $655 million (USD). One very positive outcome is that 75% of the beneficiaries are women, and the reimbursement rate reaches 99%.
Now a cooperation between various international banks has created a new $11.5 million fund for micro-credit associations. Those involved are the Moroccan bank "Caisse de Dépôts et de Gestion" (CDG), the German bank "Kreditanstalt für Wiederaufbau" (KFW), the French "Caisse française des Dépôts et Consignations" (CDC) and the French Agency for Development (FAD). According to a CDG press release, this structure is meant to facilitate access of micro-credit associations to funds and to attract new private sources.
The fund also aims to promote cooperation between international backers in order to coordinate their activities and create a dialogue with the government so as to achieve structural development in the sector.
Tags: Moroccan Morocco Fes, Maghreb news
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