|Reg Ind, Financial Markets, EMENA|
|Established in 1997, Association Al Amana pour la Promotion des Microentreprises (Al Amana) is the leading microfinance institution (MFI) in Morocco. Al Amana provides micro credit to low income groups and individuals in various sectors including commerce, agriculture. It has demonstrated a business model that works, an ability to scale up, and good management. However, with a high leverage, Al Amana?s future growth is constrained by its ability to raise further debt.
Through this project, IFC seeks to help Al Amana increase its capital base by providing a subordinated loan. IFC will also support the funding needs of Al Amana, by providing a partial credit guarantee (PCG) to help Al Amana raise senior debt.
Development impact of the project
The proposed investment is expected to make high impact contribution by providing access to finance to micro and small enterprises, an area of key strategic priority to IFC. As IFC assists Al Amana with sourcing additional funding, this project would serve those segments of the population that lack access to credit, hence seeking to:
- reduce income disparities in the country, and
- contribute to job creation in underserved regions.
See project site:
|Al Amana - Maroc|