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$8 million loan from IFC to Al Amana Microfinance to support microenterprises

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The International Finance Corporation and Al Amana Microfinance are launching a program to improve access to finance for microenterprises in the country, especially those run by women.

July 13, 2022 at 11:34 a.m.

Modified July 13, 2022 at 12:14 p.m.

The International Finance Corporation and Al Amana Microfinance are launching a program to improve access to finance for microenterprises in the country, especially those run by women.

Under an agreement signed Friday, July 8, the International Finance Corporation (IFC) will provide financing of $8 million at Al Amana Microfinance. It will enable it to strengthen its impact and cover more micro-entrepreneurs and informal enterprises. At least half of the loan will go to support women and women-owned businesses.

“Our support to Al Amana Microfinance will help improve access to finance for many microenterprises, including those run by women, and to continue their activities,” said Cheick Oumar Sylla, IFC Regional Director for North Africa, quoted in a press release.

Al Amana Microfinance and IFC have been partners since 2006 through a technical assistance program that assessed its institutional readiness for transformation in the event of regulatory reform in Morocco.



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