ebrd to boost local currency lending in morocco
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

to local small and medium-sized enterprises

EBRD to boost local currency lending in Morocco

Arab Today, arab today

Arab Today, arab today EBRD to boost local currency lending in Morocco

EBRD to boost local currency lending in Morocco
Morocco - Arabs Today

The EBRD and Morocco are joining forces to develop local currency lending to small businesses and provide affordable loans to Moroccan banks and microfinance organisations.

During a visit to Morocco EBRD Vice President Alain Pilloux signed a Memorandum of Understanding today with Morocco’s Ministry of Economy and Finance and the Central Bank (Bank Al Maghrib) of Morocco which will pave the way for lending to local small and medium-sized enterprises (SMEs) in local currency, mitigating their exposure to exchange rate volatility.

The EBRD established its Local Currency and Capital Markets Development Initiative (LC2) in the aftermath of the global financial crisis to strengthen local capital markets and to encourage the use of local currencies in the countries where it works. Local capital markets provide a reliable source of funding, thereby contributing to financial resilience and sustainable growth. Technical cooperation and donor support provide vital backup for the programme.

Morocco is committed to develop the local currency Dirham and local capital markets and determined to support access to affordable local currency funds for local private businesses. To achieve this goal the Moroccan authorities are promoting a macroeconomic, regulatory and market environment that supports the development of local capital and money markets and local currency borrowing.

Marie-Alexandra Veilleux-Laborie, EBRD Director for Morocco, said: “The signing of this MoU is an additional step in strengthening our commitment in Morocco. It will allow the EBRD to lend at competitive rates in Moroccan Dirham to local SMEs, which are the backbone of Morocco’s economy. This confirms the EBRD’s commitment to the country and its strong willingness to support the development of the Moroccan private sector.”

To supplement LC2 the EBRD also launched a €500 million SME Local Currency Programme, which combines EBRD financing with donor resources to provide eligible borrowers with access to affordable funding. To date, over 300,000 SMEs in countries where the programme has been rolled out have benefited from the joint initiative of the EBRD’s Local Currency and Local Capital Markets and SME Finance and Development groups.

Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the Bank has invested over €1.2 billion in over 30 projects in the country. The Bank has also supported more than 340 Moroccan SMEs by providing business advisory services.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ebrd to boost local currency lending in morocco ebrd to boost local currency lending in morocco

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ebrd to boost local currency lending in morocco ebrd to boost local currency lending in morocco

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 02:44 2016 Thursday ,27 October

10 Palestinians arrested in W.Bank

GMT 23:29 2017 Thursday ,06 April

Omani side of ‘marvel’ road completed

GMT 00:11 2017 Friday ,18 August

IS-held Raqa ‘worst place’ in Syria: UN

GMT 06:48 2015 Tuesday ,25 August

Miller Harris to launch La Fumée Alexandrie

GMT 14:53 2016 Wednesday ,30 March

Bahrain's oil and gas industry gets financial boost

GMT 18:03 2017 Thursday ,23 February

Yemeni forces advance towards Hadida province

GMT 05:10 2017 Saturday ,18 February

SoftBank to Acquire US Investment Firm for $3.3bn

GMT 17:11 2017 Tuesday ,07 March

Thinni slams int'l silence over suicide attack

GMT 13:48 2017 Thursday ,30 November

Trump was 'wrong' but UK-US relations will endure

GMT 02:00 2017 Thursday ,16 November

Egyptian diva to face trial for disparaging a river

GMT 06:28 2017 Thursday ,14 December

Palestinians have right to Jerusalem as capital

GMT 09:54 2017 Monday ,11 December

Dalal Abdel Aziz hapy for participating

GMT 16:23 2016 Friday ,07 October

Norway seeks ban on burqas in classrooms

GMT 11:16 2017 Wednesday ,22 March

Ideal mothers honoured

GMT 22:22 2016 Tuesday ,08 November

Magnitude 6.0 Earthquake Hits Indonesia
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday