UNDP backs micro-loans to Moroccan rural women

The UN Development Program (UNDP) and the Moroccan Zakoura Fondation signed in Rabat this Thursday an agreement related to the extension of micro-loans to poor rural women in the central region of Al-Haouz.

Under the agreement, the Arab Gulf Fund for the support of UN organizations (AGFUND) and the UNDP representation in Morocco will extend the Zakoura Micro credit foundation a financial assistance worth US $82,971 dollars as well as technical assistance.

The assistance will help the Zakoura foundation implement a 24-month program to benefit more than 900 rural women. The program also provides for the training of staff to be in charge of the foundation section in Al-Haouz region. The staff will promote the micro-credit formula, identify potential recipients, assess their activities, manage and follow-up the credits and promote savings.

The accord was signed by the acting UNDP resident representative in Morocco, Olivier Ranaivandrambola, and Zakoura Foundation chairman, Nourredine Ayouch.