EIB, Jaida Loans Morocco EUR 10M to Support Microcredit Activity

Source: Yabiladi

The European Investment Bank (EIB) and the financing company of microfinance organizations Jaida have announced the signing of a loan agreement for an amount of EUR 10 million to support income-generating microcredit activities in Morocco.

This support will strengthen Jaida's capacity to finance microfinance institutions in Morocco and support its action on financial inclusion and social development, said a joint press release. This new operation is a continuation of the EIB's action carried out for several years in favor of microfinance in Morocco and is part of the bank's response aimed at supporting the Moroccan economy, more particularly micro-entrepreneurs, in the context of the COVID-19 crisis.