Subsidiary of CDG Maroc Group, Finéa, announced in a statement, the signing with BMCE Bank of Africa, of an agreement for the provision of a second financing line of 1.3 billion dirham (€119 million).

The new financing aims to facilitate access to funding for Moroccan SMEs that operate in the country’s various productive sectors, knowingly funding for their investment projects and needs in treasury.

Moreover, the new line comes after a fundraising last November 25, 2015, by Finéa from German development bank KfW for €150 million.

Let’s recall that the first line of refinancing, €200 million, arranged by Finéa and KfW in December 2013, was used to finance more than 2,100 SMEs via four partnering banks: Attijariwafa bank, Groupe Banque Populaire, BMCE Bank and CIH Bank.

Finéa is an institution that works to facilitate access to funding and public procurements for SME’s and Very Small Enterprises, in collaboration and partnership with banks.