Morocco/Microcredit: 2 Million Jobs by 2020.
15 October 2012
Read by 1864 persons
Microfinance in Morocco, a pioneering country in Africa in microcredit, aims to support some 3.2 million people and create two million part-time jobs by 2020, according to participants at an international conference.
"As part of our strategy, microfinance must be able to serve 3.2 million beneficiaries and finance two million part-time jobs in order to fight poverty," said Tariq Sijilmassi, president of the National Federation of Microcredit Associations (Fnam) in Morocco.
"Over the past 20 years, more than 40 billion dirhams (3.6 billion euros) in microcredits have been granted to 4.5 million people, enabling them to create income-generating activities," he added. In a message to participants at the symposium held Thursday and Friday, King Mohammed VI considered that the involvement of the national and international financial system in supporting microcredit was "essential, especially in this difficult economic situation."
For the king, the "financing of income-generating and job-creating projects, particularly for women and young people, is likely to contribute to alleviating the difficulties of disadvantaged populations." In addition to microfinance, Morocco launched the National Initiative for Human Development (INDH) in 2005, a poverty reduction project supported in particular by foreign loans.
Lefigaro.fr
Published October 12, 2012.
Posted online October 15, 2012.
"As part of our strategy, microfinance must be able to serve 3.2 million beneficiaries and finance two million part-time jobs in order to fight poverty," said Tariq Sijilmassi, president of the National Federation of Microcredit Associations (Fnam) in Morocco.
"Over the past 20 years, more than 40 billion dirhams (3.6 billion euros) in microcredits have been granted to 4.5 million people, enabling them to create income-generating activities," he added. In a message to participants at the symposium held Thursday and Friday, King Mohammed VI considered that the involvement of the national and international financial system in supporting microcredit was "essential, especially in this difficult economic situation."
For the king, the "financing of income-generating and job-creating projects, particularly for women and young people, is likely to contribute to alleviating the difficulties of disadvantaged populations." In addition to microfinance, Morocco launched the National Initiative for Human Development (INDH) in 2005, a poverty reduction project supported in particular by foreign loans.
Lefigaro.fr
Published October 12, 2012.
Posted online October 15, 2012.
