Moroccan fund for supporting small projects

The Moroccan government under the chairmanship of Prime Minister Abderrahmane Youssoufi agreed on establishing a fund to support small and medium-sized projects with a capital of $31 million.

The fund will present loans to Moroccan youths with support from nine Moroccan banks in addition to technical support from the French agency for development, the primary donor for this fund which will present loans of a minimum of one million Moroccan dirhams ($9,500 dollar), while the maximum limit is 17 million Moroccan dirhams.

The loan is to be paid back over a period of 12 years, with an allowance period of three years.