Finéa : A second credit line of €150 million in favor of Moroccan SMEs
On Wednesday, November 25, 2015, a financing agreement was signed between the Caisse de Depot et de Gestion (CDG), FINEA - subsidiary of CDG and KfW on the establishment of a credit line of €150 million granted by KfW to FINEA to finance small and medium Moroccan enterprises.
Capitalizing on the success of the first operation in December 2013 for the sum of €200 million which funded more than 2,100 SMEs through four partner banks, CDG Group and KfW have by their signature consolidated their relationship in a partnership that is strategic, sustainable and exemplary in aiding the economic and social development of Morocco.
Establishing this new line of credit of €150 million will, like the first credit line:
- On the one hand, provide additional financial resources to banks according to a well-defined standard and on very favorable terms and in order to better support SMEs’access to financing for their investments and working capital requirements;
- On the other hand, strengthen the capabilities of "FINEA Imédia".
It represents a new interpretation of CDG Group’s permanent commitment, as a trusted third party, to support the development of Moroccan SME, which are a source of growth and an employment pool; and thereby confirms the positioning of FINEA as an available institution, driven by a mission of general interest that organizes financing by signature/guarantee, refinancing and co-financing.