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Empowering Women-Led Businesses: BERD and EU Collaborate to Support SMEs in Morocco
In a collaborative effort, the European Bank for Reconstruction and Development (EBRD) and the European Union (EU), in partnership with the Arrawaj Foundation for Inclusive Finance, are joining forces to support women-led micro, small, and medium enterprises (MSMEs) in Morocco.
Under the "Women in Business" program, EBRD will provide an unsecured loan of 110 million dirhams (10 million euros) to the Arrawaj Foundation.
These funds will offer extensive support to women-led MSMEs located in regions affected by the Al Haouz earthquake.
"This mechanism will be reinforced by a technical cooperation program funded by the EU. It will contribute to providing capacity-building and advisory services to women-led MSMEs, supporting the development of their expertise and entrepreneurial skills," states a press release from the EBRD.
The investment is also backed by the European Fund for Sustainable Development Plus (EFSD+). Through its financial inclusion program, EFSD+ introduces innovative financial instruments in the southern and eastern parts of the Mediterranean basin, as well as in Eastern Europe and the Caucasus.