Main points of the convention on the financing of entrepreneurship
Rabat - Here follow the main points of the agreement signed on Monday at the Royal Palace in Rabat before His Majesty King Mohammed VI, between the Ministry of Economy, Finance and Administration Reform, Bank Al-Maghrib (Morocco's central bank) and the Professional Grouping of Banks of Morocco concerning the special purpose account (SPA) "Entrepreneurship Financing Support Fund". - The agreement is intended to set out the overall framework and the methods for using the resources of the "Entrepreneurship financing support fund"
- The Fund is aimed at supporting the financing of entrepreneurship. - The Fund has a budget of at least 6 billion dirhams, over a period of 3 years, including 3 billion dirhams from the banking sector.
- The resources of the Fund are dedicated to the financing of the projects registered within the framework of the object of the SPA, as laid down by the finance law, and target in a priority way the informal sector, project owners, self-entrepreneurs, startups and micro and very small businesses, including in rural areas. - The governance of the Fund is ensured by a tripartite steering committee that includes the Minister of Finance - President, the Governor of Bank Al-Maghrib, the president of the Professional Grouping of Banks of Morocco, and a technical committee made up of representatives of the members of the steering committee as well as the Central Guarantee Fund.
- The resources received by the Fund are scheduled on the basis of the terms to be agreed upon by the technical committee.
- The programs funded by the Fund are subject to periodic reporting to the members of the steering committee, on a quarterly basis.
- The Fund is aimed at supporting the financing of entrepreneurship. - The Fund has a budget of at least 6 billion dirhams, over a period of 3 years, including 3 billion dirhams from the banking sector.
- The resources of the Fund are dedicated to the financing of the projects registered within the framework of the object of the SPA, as laid down by the finance law, and target in a priority way the informal sector, project owners, self-entrepreneurs, startups and micro and very small businesses, including in rural areas. - The governance of the Fund is ensured by a tripartite steering committee that includes the Minister of Finance - President, the Governor of Bank Al-Maghrib, the president of the Professional Grouping of Banks of Morocco, and a technical committee made up of representatives of the members of the steering committee as well as the Central Guarantee Fund.
- The resources received by the Fund are scheduled on the basis of the terms to be agreed upon by the technical committee.
- The programs funded by the Fund are subject to periodic reporting to the members of the steering committee, on a quarterly basis.
Source : https://www.marocafrik.com/english/Main-points-of-...