OREANDA-NEWS. On behalf of the Federal Ministry for Economic Cooperation and Development (BMZ), KfW Development Bank signed a loan agreement for EUR 200 million with Finea S.A. Finea will pass this development loan on to Moroccan commercial banks, which in turn will lend to small and medium-sized enterprises. The banks involved are also being given support to set up specific lending technology and to train loan officers.

"KfW is helping Morocco to grant small and medium-sized enterprises - which drive the economy - access to financial services. This access enables SMEs to make investments, generate additional income and create jobs," explains Dr Norbert Kloppenburg, Member of the KfW Group's Executive Board.

The conclusion of this agreement is a signal for the future. It is expected that Moroccan banks will extend their lending to small and medium-sized enterprises.

Finea S.A. is a 99%-owned subsidiary of Caisse des Depots et de Gestion (CDG), a Moroccan development bank based in Casablanca.