The African Development Bank (AfDB) has made an announcement on its strategy to introduce an Investment Fund for Female Entrepreneurship in Morocco in this year.
The regional lender has planned to inaugurate this fund in partnership with General Confederation of Moroccan Enterprises (CGEM) and a number of financial associates.
The AfDB aims to launch this dedicated fund for Morocco as a component of its USD 3 billion worth of global fund intended for helping the women entrepreneurs of Africa.
In 2016, the bank started discussions for the establishment of the fund as part of its preparation for the new partnership strategy for Morocco covering the period between 2017 and 2021.
During the working session between the President of the CGEM Miriem Bensalah-Chaqroun and the AfDB President on July 21, 2016, the planned fund was among the key points of discussions.
The session was held in Casablanca during the AfDB Presidents first official trip to Morocco.
The AfDB plans to contribute over MAD 200 million into the new fund for Morocco. The bank has decided to establish the fund in order to encourage financial integration of women in the country via entrepreneurship assistance.
The proposed fund is to support various initiatives undertaken by the Moroccan Government towards this objective, particularly the Ilayki program of the Caisse Centrale de Garantie.
The Ilayki scheme is aimed at promoting the establishment of businesses by the female residents of the Kingdom.
The regional lender has planned to inaugurate this fund in partnership with General Confederation of Moroccan Enterprises (CGEM) and a number of financial associates.
The AfDB aims to launch this dedicated fund for Morocco as a component of its USD 3 billion worth of global fund intended for helping the women entrepreneurs of Africa.
In 2016, the bank started discussions for the establishment of the fund as part of its preparation for the new partnership strategy for Morocco covering the period between 2017 and 2021.
During the working session between the President of the CGEM Miriem Bensalah-Chaqroun and the AfDB President on July 21, 2016, the planned fund was among the key points of discussions.
The session was held in Casablanca during the AfDB Presidents first official trip to Morocco.
The AfDB plans to contribute over MAD 200 million into the new fund for Morocco. The bank has decided to establish the fund in order to encourage financial integration of women in the country via entrepreneurship assistance.
The proposed fund is to support various initiatives undertaken by the Moroccan Government towards this objective, particularly the Ilayki program of the Caisse Centrale de Garantie.
The Ilayki scheme is aimed at promoting the establishment of businesses by the female residents of the Kingdom.