Hassan II Fund for Economic and Social Development has offered $210 million (2 billion Dirhams) as a contribution to the integrated program to support funding of enterprises. A ceremony was chaired in this regards by King Mohammed VI in a series of measures taken recently to promote the creation of small and medium sized enterprises and assist young entrepreneurs. The fund’s contribution will bring to 8 billion dirhams the value of a special fund created to promote SMEs by the government and banking group GPBM. The newly injected $210 million will be earmarked to fund projects in rural areas at 0% interest rate. These measures come after King Mohammed VI called for better access of young graduates and project holders to funding with a view to promote entrepreneurship.

Source: The North Africa Journal January 31, 2020 18:00 UTC