The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are joining forces with Fondation Arrawaj de la Finance Inclusive to support women-led micro, small and medium-sized enterprises (MSMEs) in Morocco.
Morocco is a founding member of the EBRD
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are joining forces with Fondation Arrawaj de la Finance Inclusive to support women-led micro, small and medium-sized enterprises (MSMEs) in Morocco.
The Bank will provide a senior unsecured loan of up to MAD 110 million (€10 million) to Fondation Arrawaj under the EBRD’s Women in Business programme to support women-led MSMEs.
The EBRD funds will also provide extended support for women-led MSMEs located in the regions affected by the September 2023 earthquake.
The facility will be bolstered by a technical cooperation package funded by the EU. It will help deliver capacity-building and advisory services to women-led MSMEs to support their know-how and entrepreneurial skills development.
The investment is also supported by the European Fund for Sustainable Development Plus (EFSD+).
Through its financial inclusion programme, the EFSD+ introduces new, innovative financial instruments to the southern and eastern Mediterranean region (Egypt Jordan, Lebanon, Morocco, Tunisia and the West Bank and Gaza) and eastern Europe and the Caucasus (Armenia, Azerbaijan, Georgia, Moldova and Ukraine).
As part of the EBRD’s response to the Al Haouz earthquake, Fondation Arrawaj will also benefit from the Bank’s financial support, with a specific focus on women-led MSMEs in the affected regions.
This is one of the first transactions under the Bank’s initial response package of up to €250 million for 2023 to 2025, announced in October 2023, to rebuild Morocco’s economy in the earthquake-hit regions.
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