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The Arab Monetary Fund lends Morocco $ 300 million
07/10/2017 12:00 am [rtl]Rabat / Follow-up The Arab Monetary Fund (AMF) has approved a $ 300 million loan to the Kingdom of Morocco to support the financial and banking sector and support small businesses. In a statement, the IMF said that the Minister of Economy and Finance and the Moroccan Fund's Governor Mohammed Boussaid had signed the loan agreement on the Moroccan side, while the Arab Monetary Fund (AMF) had signed the fund's general manager Abdulrahman bin Abdullah Al-Humaidi. The statement added that the value of the loan provided by the Fund is 69.5 million Arab Dinars, accounting for about 300 million US dollars. The loan will support the efforts of the Government of Morocco in the modernization and rehabilitation of the financial and banking sector and its mechanisms to cope with and support the acceleration of economic and social growth by facilitating the access of individuals and small and medium-sized enterprises to finance and financial services, and supporting efforts to deepen financial markets to meet the financing requirements of economic activities. This funding will contribute to the institutional framework of the national strategy for financial inclusion, by strengthening the role of investment funds to support SMEs and innovative projects. According to the statement, the amount of the loan will contribute to enhancing the access of women to finance through the activation of the guarantee product, which provides preferential guarantees for bank loans for projects owned by women; the study of the transition from guaranteeing individual projects to collective security for microcredit and the creation of a special website Ways and mechanisms of access to finance[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=145471[/rtl] |
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