Publish Date : 07-Mar-2018
The European Investment Bank (EIB) and Attijariwafa Bank announce the signing of a credit line of 100 million euros to strengthen support for small and medium-sized enterprises (SMEs) and businesses of size intermediaries (ETI) in Morocco. The signing ceremony was held in Casablanca in the presence of Mr. Mohamed El Kettani, CEO of the Attijariwafa bank group and Mrs. Flavia Palanza, Director of Loan Operations in the Neighborhood Countries at the EIB.
This new line of credit, granted on favorable terms thanks to the EIB's triple A rating, will enable Attijariwafa Bank to strengthen its intervention capacity in favor of Moroccan companies, whether they are small, medium or intermediate, thus facilitating the their access to attractive financing adapted to their needs, in particular through longer loan maturities. Particular attention will be paid to the industrial sector, particularly manufacturing and services, as well as to the social impact of the new line of credit, which should support around 3,500 jobs.
On this occasion, Mr. Mohamed EL KETTANI, Chief Executive Officer of Attijariwafa bank group said: "We are very pleased with the signing of this new 100 million euro line with the EIB for a number of reasons. First, I want to highlight the convergence of our visions in terms of supporting and supporting companies, whether they are very small, small, medium or medium-sized. In this respect, this line broadens the scope of our commitments already made to SMEs and midcaps; beating heart of the Moroccan economy. Secondly, we must remember the high social impact orientation that will be given to the use of this line by funding industrial projects and services that will help create jobs, especially for our young people. Finally, I am convinced that this line will meet the financing needs of export-oriented offshore activities such as the automotive ecosystem. "
For her part, Mrs. Flavia PALANZA, Director of Loan Operations in the Neighborhood Countries at the EIB, said: "This is an important financing for the Moroccan economy . Businesses are a vehicle for growth and employment, which is why it is our responsibility to create optimal conditions for financing and access to credit. With this new line of credit with Attijariwafa Bank, we contribute to the dynamism and competitiveness of the Moroccan economy. We offer job opportunities to young people. "
As one of the largest donors in the region, the EIB spent 1.9 billion in 2017, of which a quarter of this new funding supports concrete projects in key sectors of the economy. the Moroccan economy, such as support for businesses and the innovation sector, energy, industry, transport, water and sanitation, education, health and social housing.
For its part, the Attijariwafa bank group consolidates, through this new financing instrument, its position as the leading financier of the Moroccan economy and the TPME / ETI in particular.
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