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AL AMANA MICROCREDIT

Signature(s)

Amount
€ 3,000,000
Countries
Sector(s)
Morocco : € 3,000,000
Credit lines : € 3,000,000
Signature date(s)
1/07/2020 : € 3,000,000
Link to source

Summary sheet

Release date
4 December 2019
Status
Reference
Approved | 13/01/2020
20170959
Project name
Promoter - financial intermediary
AL AMANA MICROCREDIT
ASSOCIATION AL AMANA POUR LA PROMOTION DES MICROENTREPRISES
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 3 million
not applicable
Location
Sector(s)
Description
Objectives

The EUR 3m loan operation will finance the portfolio of Al Amana Microcredit, the largest microfinance institution in Morocco, which provides economic and social development solutions focusing on financial inclusion for micro- entrepreneurs.

The project will provide access to finance for micro/small enterprises specifically targeting women, youth and the poorest people living in rural areas.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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