Morocco’s state-backed financial institution, Tamwilcom, has partnered with the International Finance Corporation (IFC) to establish a $300 million initiative aimed at unlocking credit for the nation’s small and medium-sized enterprises (SMEs). The deal, formalized in Washington D.C., creates a risk-sharing facility designed to address persistent financing gaps for businesses that form the backbone of the Moroccan economy.
Quick Facts
- New $300 million risk-sharing facility.
- Targets women-led and agricultural SMEs.
- Aims to close a $20.4B financing gap.
Tackling a $20 Billion Credit Deficit
The new partnership will deploy a MAD 2.74 billion (approximately $300 million) risk-sharing facility that covers a portfolio of SME guarantees issued by Tamwilcom. This initiative specifically targets businesses that have historically struggled to secure financing, including women-led enterprises, agricultural operators, and firms within crucial supply chains.
Despite SMEs accounting for around 90% of all businesses in Morocco, a financing gap estimated at $20.4 billion continues to hinder their growth. According to official statements, this deficit is less about a lack of available capital and more about limitations in risk assessment and guarantee mechanisms within the existing financial system.
“Moroccan entrepreneurs create jobs, strengthen value chains, and build the economic resilience of their communities,” said Ethiopis Tafara, IFC Vice President of Africa.
“Through its partnership with Tamwilcom, IFC is mobilizing private capital to support farmers, women entrepreneurs, and small businesses that are driving Morocco’s economic transformation,” Tafara added.
More Than Money: Strategic Support and a New Vision
Beyond the financial commitment, the IFC will provide advisory support to enhance Tamwilcom’s operational model, focusing on agriculture and supply chain finance. The collaboration will also work to align the institution’s guarantee frameworks with international standards and integrate environmental, social, and governance (ESG) principles into its risk management practices.
For Tamwilcom, the agreement is a key component of its new “Jossour 2030” strategy, which aims to optimize the use of its resources and increase private sector participation in SME financing.
“This agreement marks a new milestone in Tamwilcom’s journey to strengthen its risk management framework to the highest standards,” said Said Jabrani, CEO of Tamwilcom. “This initiative also represents a first step in the implementation of our new ‘Jossour 2030’ strategy.”
About Tamwilcom
Founded in 1949, Tamwilcom is one of Africa’s oldest guarantee institutions and a central pillar in Morocco’s credit enhancement ecosystem. In 2025 alone, the institution issued approximately $2.7 billion in guarantees, which facilitated nearly $4.7 billion in financing across more than 70,000 transactions.
Source: Morocco World News
