BERD and Finéa combine to support TPME

This article was automatically translated from HIBAPRESS, the Arabic version:

Hibapress

The European Bank for Reconstruction and Development (BERD) announced on Wednesday the granting of a loan of up to 23.5 million euros (in local currency) in Finéa, a subsidiary of the CDG group dedicated to the financing of very small, small and medium -sized enterprises (TPME). This loan will also be accompanied by a first loss guarantee provided by the European Union (EU), through the European Fund for Sustainable Development Plus (Fedd+), said a joint press release from BERD and Finéa.

Thanks to this funding, Finéa will be able to strengthen its support for Moroccan TPME by facilitating them access to public and private tenders, in particular in strategic sectors such as municipal lighting, supply of schools and hospital, or even the development of infrastructure, specifies the same source.

Registering within the framework of the response mechanism set up by the BERD following the earthquake of Al Haouz which occurred in September 2023, this loan aims in particular to contribute to the support of the most affected regions, the press release said. Although primarily targeting companies located in disaster areas, this device will also benefit from the TPME operating outside the main economic axis Casablanca-Rabat.

In addition to this financial support, a technical cooperation program is planned to support the development of a digital platform dedicated to new factoring and financing products of the Finéa supply chain.

Integrated into the company’s banking systems, this platform will aim to better meet the specific needs of TPME in funding and strengthen their competitiveness.

Approved by Bank Al-Maghrib, Finéa is the main vocation to facilitate access to businesses to financing and public procurement, by offering them tailor-made, innovative and adapted solutions. To do this, it combines funding, co -financing and refinancing, in accordance with its strategic development plan and its positioning of space establishment.

Finéa is, moreover, manager of the guarantee fund dedicated to public procurement (FGCP), and whose vocation consists in facilitating the conditions of access to financing for the benefit of companies awarded to public procurement. In 2023, its total assets amounted to 216 million euros.

For its part, the Fedd+, created in June 2021, offers the EU partner countries an assistance for the creation of key investments through subsidies or financial guarantees. The EU thus mobilizes additional financial resources from the public and private sectors in support of sustainable development.

As a reminder, Morocco is one of the founding members of the BERD. The bank has invested there, since 2012, more than 5.3 billion euros, spread over 112 projects.

The bank’s priority in Morocco is to support sustainable energies, direct and indirect financing of private companies, infrastructure reform and non -sovereign financing.