The Spanish Council of Ministers adopted, on Wednesday, an agreement authorizing the granting of a 20 million euros loan for AÏDA, a fund for micro-finance institutions in Morocco.
The loan, granted through the Spanish Agency for International Development Cooperation (AECID), aims to finance the expansion of the Jaïda Fund portfolio.
The main objectives seek to facilitate the financing of all MFIs, with a view to improving access to credit for micro-entrepreneurs in Morocco, raising financing from private sources, and promoting institutional development.
”The support to several micro-finance institutions, through Jaïda, and its extensive distribution network, with branches and points of sale in the priority areas of Spanish development cooperation, facilitate alignment with priorities of the AECID in Morocco, which allows possible synergies for Spanish action in different areas of development”, indicates the Spanish government in a press release.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.