IFC and Saham Bank Partner on $250 million-equivalent Unfunded Risk Participation to Support Access to Finance for Moroccan Businesses
Morocco, Nov. 4 -- IFC and Saham Bank have signed a partnership to expand access to finance for Moroccan businesses, supporting and creating jobs, and strengthening the resilience of Morocco's financial sector.Under the partnership, IFC will take on up to 50 percent of the credit risk on a $500 million equivalent portfolio of Saham Bank's corporate loans, allowing the bank to continue financing Moroccan companies while meeting regulatory requirements.The agreement was signed on the sidelines of the Africa Financial Industry Summit, co-hosted by IFC, Jeune Afrique and the Kingdom of Morocco. The summit brought together policymakers, investors, and regulators to discuss how African savings can stay on the continent to fund growth with local c...
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