US releases $ 100 million for Moroccan small businesses

In a statement, the CEO of the International Development Finance Corporation (DFC), Adam Boehler, announced a financial collaboration with the Small Business Assistance Fund (SEAF Global). With a total amount of $ 100 million, the objective of this partnership is to support small Moroccan businesses, by focusing on market opportunities and especially on the country’s chronic problems that need to be resolved by local entrepreneurs.

This investment targets more small and medium-sized enterprises operating in the fields of agriculture, health, industry, water, sanitation and clean energy. In addition to this partnership, a letter of interest with the Office Chérifien des Phosphates (OCP) has been signed to support projects that will facilitate agricultural productivity in sub-Saharan Africa.

As a reminder, last December, the American international development finance company announced actions aiming to mobilize USD 5 billion through trade and investment agreements in Morocco and other North African countries.

This program aims to pursue initiatives to promote private investment and support entrepreneurship put in place by the Moroccan government for inclusive development and job creation. The objective of these actions is to make Morocco the new economic pole of the sub-region. Thus, a branch of the American initiative Prosper Africa will be set up in Rabat for international investments with French-speaking African countries. This branch, a first in the north of the continent, will be launched in February 2021.

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