Morocco: Proparco strengthens its partnerships with BCP and Al Amana Microfinance

Proparco, the subsidiary of the French Development Agency (AFD), signed Thursday, June 28 in Casablanca, two agreements with the Central Bank Group (BCP) and the institution Al Amana microfinance.

The agreement signed with the BCP concerns financing aimed at strengthening cooperation between the two parties to promote access to financing by BCP client companies, both in Morocco and in sub-Saharan Africa.

As a reminder, Proparco supported in 2017, the launch of the first Green Bond in the bank’s currency of 135 million euros, participating for 35 million euros.

The second partnership involves a € 3 million loan to Al Amana Microfinance to support the group’s growth and strengthen its financial inclusion mission to serve microenterprises and individuals.

This loan replenishes Proparco’s commitment to Al Amana microfinance which has already benefited from two credits (11 million euros in 2005 for its deployment in rural areas and 3 million euros in 2007 for the development of its housing product) granted by AFD and technical assistance for the design of its microinsurance product.

It should be noted that in Morocco, over the last 10 years, Proparco has committed 217 million euros, mainly in support of companies and financial institutions creating jobs, involved in the fight against climate change and in the region. improved access to essential goods and services.

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