The LMDF invests for the first time in Northern Africa
Two new Moroccan MFIs supported by the Fund with EUR 800.000 investments
The Luxembourg Microfinance and Development Fund has closed its first investments in Northern Africa to contribute to the economic development of micro-entrepreneurs in the region. LMDF invested EUR 800.000 in two microfinance institutions in Morocco:
AMSSF / MC, Association Marocaine Solidarité Sans Frontières / Micro Crédit, has been granted a loan of EUR 500.000. This MFI’s mission is to develop income-generating activities with adequate financial products, responding to the needs of micro-entrepreneurs, which are diversified and of quality, and with a particular attention to the needs of women.
INMAA, Institution Marocaine d’Appui à la Micro-Entreprise, has received a loan of EUR 300,000. This institution is committed to the fight against poverty, especially in rural areas through micro-credit programs for the benefit of the poor working population.