Morocco and Germany signed a loan agreement of 150 million euros, equivalent to MAD 1.6 billion, according to Markus Faschina, Regional Director of the German Development Bank KFW’s LinkedIn post.
The loan will be directed to support a number of reforms related to the financing of micro and small enterprises.
The agreement was reached Wednesday between Minister of Economy and Finance Nadia Fattah Alaoui and Regional Director of the German Development Bank KFW, Markus Faschina, in the presence of the German Ambassador to Rabat, Robert Dolger.
“The loan will be accompanied by a grant of 15 million euros to finance the expertise, after the renewal of the cooperation agreement between the two countries following the bilateral negotiations that took place last October in Berlin,” according to the same source.
“The aim is to support Morocco’s ambitious reforms for financial inclusion, specifically to increase the supply and support for small businesses,” he said in the same LinkedIn post.
This reform-oriented financing marks a new approach to our cooperation — It opens the way to other areas of cooperation, he continued.
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