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Morocco Procurement News Notice - 88636


Procurement News Notice

PNN 88636
Work Detail The European Bank for Reconstruction and Development (EBRD) is supporting young entrepreneurs in?Morocco with a loan of up to €20 million (to be provided in local currency) to Al Amana Microfinance, a leading microlender in the country. This financing package is being provided under the EBRD’s Youth in Business programme to assist Al Amana with on-lending to private micro, small and medium-sized enterprises (MSMEs) in Morocco that are owned or led by entrepreneurs under 35 years of age, with a special focus on regions affected by the earthquake that struck the country in 2023. MSMEs owned or led by young entrepreneurs represent a unique market opportunity for the Moroccan financial sector and a unique vehicle to increase financial inclusion, but they continue to face financing gaps constraining their economic opportunities. It is estimated, for example, that only 14 per cent of young Moroccans have a bank account. This facility will be accompanied by a comprehensive technical cooperation package. Al Amana will receive capacity-building training to improve its ability to cater for the financial needs of eligible MSMEs, as well as result-based payments funded by the EBRD’s Southern and Eastern Mediterranean Multi-Donor Account. The technical cooperation package will also include training opportunities for Al Amana’s sub-borrowers (with a focus on digital and non-financial services), which will be funded by the EBRD’s Small Business Impact Fund. The loan will also benefit from first loss risk cover for sub-loans extended in regions affected by the 2023 earthquake. The facility is being supported by the European Union (EU) through its European Fund for Sustainable Development Plus (EFSD+). EFSD+ was established in June 2021 and offers EU partner countries assistance with key investments through grants or financial guarantees. In this way, the EU mobilises additional financial resources for sustainable development from the public and private sectors. EFSD+ has a total global guarantee capacity of €39.8 billion for the period from 2021 to 2027, of which €22.5 billion will be used in the EU’s enlargement and neighbourhood regions. Founded in 1997, Al Amana Microfinance quickly established itself as a key player in the Moroccan microfinance landscape. With 2,400 dedicated employees working in a dynamic network of 647 branches, Al Amana Microfinance offers a full range of inclusive financial and non-financial services catering for the needs of MSMEs. Leveraging a customer-centric and integrated approach, Al Amana strives to make its services accessible, tailoring them to the circumstances of the communities it serves, from major urban centres to the most isolated areas of the country, thereby promoting financial inclusion and sustainable economic development in Morocco. Morocco is a founding member of the EBRD. Since 2012, the Bank has invested more than €5.2 billion in the country through 110 projects to date. The Bank’s focus in Morocco is on supporting sustainable energy, direct and indirect financing of private enterprises, infrastructure reform and non-sovereign financing
Country Morocco , Northern Africa
Industry Construction
Entry Date 25 Jan 2025
Source https://www.ebrd.com/news/2025/ebrd-and-eu-promote-youth-entrepreneurship-in-morocco.html

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