World Bank loan for Morocco’s SMEs

New Straits Times - - Business -

The World Bank said it has ap­proved US$150 mil­lion (RM669.95 mil­lion) in fi­nanc­ing to sup­port small en­ter­prises in Morocco and im­prove so­cial pro­grammes in the North African coun­try. The funds, ap­proved on Fri­day, will help the gov­ern­ment “mod­ernise its na­tional iden­ti­fi­ca­tion sys­tem and pro­vide fi­nanc­ing to pro­mote in­no­va­tive star­tups and job cre­ation”, a state­ment said. Ac­cord­ing to the World Bank, al­most 5.3 mil­lion Moroc­cans “live un­der the threat of fall­ing back into poverty due to their con­di­tions”.

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