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1.6 billion dirhams granted for financing SME

Chaired by Mr Anas Alami Houir , CEO of the Caisse de Dépôt et de Gestion and in the presence of the CEOs of: BMCE Bank Othman Benjelloun, Banque Centrale Populaire Mohamed Benchaaboun, CIH Ahmed Rahhou, and Laftit Said Secretary General of the CDG, FINEA represented by its Managing Director Ali Bensouda, signed refinancing agreements with BMCE Bank , BCP and CIH enabling them to borrow more than 1.6 billion dirhams, on very favourable terms, to finance investment projects and cash requirements of SMEs operating in all productive sectors of the national economy.

The signings, which took place after FINEA raised funds from KfW on December 27, 2013, represent a major new contribution from CDG Group through FINEA towards the development of Moroccan SMEs. This is once again a confirmation of the role of CDG as a trusted third party and the position of FINEA as a supporting institution stimulated by an aim that is of interest to all, and combining guarantees, refinancing and co-financing for SMEs, as well as very small businesses, in accordance with its 2013-2017 strategic development plan.

These agreements demonstrate also the type of partnership, complementarity and cooperation that links CDG Group, through FINEA, to the banking sector. This in addition to the combined efforts, expertise and skills with a common strategic interest, namely the development of the national economy through the support of Moroccan companies that are the main vectors of growth and job creation in the country.

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