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Egypt 
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Tunisia EBRD and EU partner with Finéa to support MSMEs in earthquake-affected regions of Morocco
The European Bank for Reconstruction and Development (EBRD) is supporting micro, small and medium-sized enterprises (MSMEs) in Morocco by lending up to €23.5 million (to be provided in local currency) to Finéa, a financing company that specialises in helping MSMEs to participate in public and private tender procedures in the country. The loan will benefit from first loss risk cover provided by the European Union (EU) through its European Fund for Sustainable Development Plus (EFSD+).
This financing will be lent on to private MSMEs, helping to foster more competitive markets and enhance access to public and private tender procedures in Morocco in areas such as municipal lighting, the supplying of public schools and hospitals, and infrastructure development. This financing package is being provided under the earthquake response facility that the EBRD established to help rebuild Morocco’s economy and support affected areas following the devastating earthquake in September 2023. While it will focus on small businesses in earthquake-affected regions, it will also help to address financing gaps faced by MSMEs in other financially underserved parts of the country outside Casablanca and Rabat.
The facility will be accompanied by a comprehensive technical cooperation package aimed at developing a digital platform for Finéa’s new factoring and supply-chain financing products and integrating that platform into the company’s banking systems. This new platform OR financial product will help Finéa to cater for the specific financial needs of individual MSMEs.
Countries covered:
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Morocco
