Rabat - Morocco and France signed, on Thursday in Rabat, a statement of intent on funding small and medium enterprises (SMEs) to foster financial and technical cooperation and training.
Rabat – Morocco and France signed, on Thursday in Rabat, a statement of intent on funding small and medium enterprises (SMEs) to foster financial and technical cooperation and training.
Signed by Economy minister Mohammed Boussaid and French counterpart Pierre Moscovici, on a working visit to Morocco, the statement provides for transferring resources from the French guarantee fund, amounting to 26 million euros, to the SMEs guarantee fund set up by the Moroccan economy ministry and managed by the central guarantee fund (CCG).
This operation concerns redeploying financial cooperation resources worth 16 million euros from the financial restructuration guarantee fund and provides for a mechanism totaling 25 million euros to improve SMEs’ access to loans.
Another cooperation protocol was inked by the French public investment bank, the French development agency and the CCG to reinforce cooperation to broaden the scope and efficiency of their Risk-Sharing Instruments, as well as the funding of Moroccan SMEs and French ones wishing to gain a foothold in Morocco.
The agreement aims to facilitate the international development of enterprises of their respective countries, director general of CCG Hicham Zanati Serghini told MAP.