The African Development Bank Group (AfDB) announced on Monday in Rabat the launch of the Entrepreneurship Support and Financing Program for Job Creation (PAFE-Emplois).
Launched during a workshop that brought together representatives from the AfDB, national institutions, technical and financial partners, and the teams responsible for its implementation, PAFE-Emplois aims to support public measures to assist entrepreneurs, the financing of inclusive entrepreneurship, the strengthening of incentive mechanisms for very small and medium-sized enterprises (VSME), and support for innovative operational approaches to promote employment, the Bank said in a press release.
This initiative is part of Morocco’s Employment Roadmap and National Financial Inclusion Strategy, which aim to boost the creation of sustainable and inclusive jobs in the Kingdom, the press release adds.
The program benefits from a grant allocated to the Affirmative Finance Action for Women in Africa (AFAWA) initiative through the Women Entrepreneurs Finance Initiative (We-Fi). Women entrepreneurs will receive a grant to help them finalize their project preparations and raise funds.
“By linking investment guarantees and grants for micro, small, and medium-sized enterprises to employment targets, this new results-based financing will help transform entrepreneurial potential into impact,” said Achraf Tarsim, head of the AfDB Group’s country office in Morocco.
More than 40 participants attended the launch workshop, which presented the program’s strategic framework and governance, results-based financing mechanisms, and environmental and social standards.
Discussions also identified operational priorities for the start-up phase and defined a shared roadmap for various stakeholders.
The program benefits from the support of other institutional partners, notably the Ministry of Investment, Convergence, and Public Policy Evaluation and Tamwilcom. It also relies on the involvement of other technical and financial partners such as the German Development Bank (KFW) and the Islamic Development Bank (IDB).
Since 1978, the African Development Bank Group has mobilized nearly €15 billion to fund more than 150 projects and programs in Morocco. Its interventions cover strategic sectors such as transport, social protection, water and sanitation, energy, agriculture, governance, and the financial sector
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