EIB invests US$11m loan to Jaida to support income-generating microcredit activities

MOROCCO – The European Investment Bank (EIB) has financed €10 million (US$11.99m) loan to the financing company of microfinance organizations, Jaida, to support income-generating microcredit activities in Morocco. The loan to be extended will strengthen the company’s capacity to finance microfinance institutions in Morocco and support its action meant to promote financial inclusion and social development, said a BEI-Jaida joint press release. This funding will be used exclusively to finance micro-credits totaling less than €25,000 (US$29,979) in order to promote income-generating activities and help maintain employment through micro and small…

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