EBRD to Launch Women Business Program in Morocco

The European Bank for Reconstruction & Development (EBRD), backed by the EU, will launch its Women’s Business Program in Morocco Sept.18.

This initiative encourages women entrepreneurship for inclusive growth and supports women entrepreneurs looking for adequate access to finance and business training.

EBRD works with women-led small and medium-sized enterprises (SMEs) to help promote women’s participation in business. From accessing finance to business advice, the Bank helps women entrepreneurs gain the skills, knowledge and resources they need.

EBRD provides access to finance through credit lines to local banks dedicated to women-led SMEs, alongside advice to help their businesses become more competitive.

It also offers training and mentoring to enable women entrepreneurs to share experiences and learn from each other. The EBRD works with partner financial institutions to help them offer financial products that better meet the needs of women-led businesses, changing the way they work.

In Morocco, only 50 per cent of formal women-led firms use a bank account and even those who do are often unable to use the full range of what banks have to offer.

The EBRD will team up with two Morocco banks – BMCE Bank of Africa and BMCI – to carry out its Women’s Business Program to help them meet the specific needs of women-led SMEs.

Women entrepreneurs will also receive business advice, training, mentoring and network-building services, as well as access to the EBRD’s online self-diagnostic. A strong focus will be placed on supporting entrepreneurs based outside of Morocco’s main commercial centers.