The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to €10 million for Fondation Arrawaj, one of Morocco's leading microfinance institutions. The loan, announced Wednesday in an EBRD, will support businesses led by entrepreneurs under 35. Provided under the Bank's Youth in Business programme, the financing will target private MSMEs, with priority given to regions affected by the 2023 earthquake. The package also includes technical assistance and training for both Fondation Arrawaj and its borrowers, with a focus on digital and non-financial services. Sub-loans in earthquake-hit areas will further benefit from first-loss risk cover. Founded in 1996 as FONDEP, Fondation Arrawaj manages nearly €200 million in assets, operates 256 branches across 15 regions, and serves close to 120,000 clients. Since becoming a founding member in 2012, Morocco has received more than €5.8 billion in EBRD investments across 123 projects.
