ANNOUNCEMENT 15 Jun 2020

In June 2020, the Central Guarantee Fund granted MAD 22.4 billion to SMEs to alleviate the repercussions of COVID-19.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Ministry of Finance, "إقلاع المقاولات الصغيرة جدا" و"ضمان إقلاع": منح 22.4 مليار درهم من القروض المضمونة لفائدة إقلاع المقاولات
9 September 2020, Available at: https://www.finances.gov.ma/ar/Pages/%D9%85%D8%B3%D8%AA%D8%AC%D8%AF%D8%A9.aspx?fiche=5124

Inception date: 15 Jun 2020 | Removal date: open ended

State loan

On 15 June 2020, the Central Guarantee Fund gave MAD 22.4 billion (approx USD 2.3 billion) loans to SMEs in industrial, trade and distribution and public works sectors affected negatively amid the outbreak of COVID-19. The budget allocated was divided into the following: 

  • MAD 2.4 billion (approx. USD 249 million) were granted to Micro-enterprises whose turnover is less than MAD 10 million.
  • MAD 20 billion (approx. USD 2 billion) were granted to small and medium enterprises whose turnover is greater than MAD 10 million. 

The Central Guarantee Fund is founded in 1949 and contributes to giving a boost to private initiatives by encouraging the creation, the development and modernization of companies. In addition, it supports social development through guaranteeing loans for housing. 

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