EBRD loans banks €35 Million for Moroccan women entrepreneurs

EBRD’s managing Director for the southern and eastern Mediterranean region, Janet Heckman. Photo: RR

Casablanca, Morocco (ADV) – The European Bank for Reconstruction and Development (EBRD) launched a “Women in Business Program” which “aims in its initial phase to reach at least 200 women entrepreneurs, through both financing and advisory services,” wrote EBRD in a statement Tuesday, September 18.

EBRD will give Morocco’s banks BMCE and BMCI €35 million in a five year loan for the initial phase: €20 million to BMCE and €15 million to BMCI. The objective is to bolster women-led small and medium-sized enterprises “with a focus on entrepreneurs outside of Morocco’s main commercial centers,” reads the statement.

EBRD’s managing director for the southern and eastern Mediterranean region, Janet Heckman, signed the loan agreement with BMCI and BMCE banks at a launch event in Casablanca.

Morocco’s Minister of Solidarity, Women, Family, and Social Development, Bassima El Hakkaoui, and the deputy head of the EU delegation to Morocco, Alessio Cappellani, also attended the event.

© Bur-csa – Oumaima Mourtada – African Daily Voice (ADV)