RealNews

European bank grants over $8m to Moroccan investment fund

The European Investment Bank (EIB) has granted $8.7m to a new investment fund in Morocco dubbed “CapMezzanine,” MAP quoted a bank press release from of bank as saying. Initiated by Morocco’s state-run fund of deposit management and the Facility for Euro Mediterranean Investment and Partnership (FEMIP), the $64.4m fund aims to support SMEs in Morocco. Morocco has focused on SME development as a main driving force for economic growth. The country allocated nearly $2 billion to fund micro-credit projects in 2006. Full Story

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