The International Finance Corporation (IFC) and Morocco’s Tamwilcom have agreed a 2.74 billion dirham (around $300 million) partnership aimed at making it easier for small and medium-sized businesses to get loans.
The deal is focused on SMEs, especially women-led businesses, farms, and companies linked to supply chains. These firms make up about 90% of businesses in Morocco, but many still struggle to access finance.
Under the agreement, the IFC will share risk on a portfolio of guarantees issued by Tamwilcom. This setup is meant to encourage more private lenders to step in and increase overall lending to SMEs.
IFC Vice President for Africa, Ethiopis Tafara, said: “Entrepreneurs in Morocco are the engines of job creation and economic resilience. Through this partnership, we are mobilising private capital to support the farmers and women entrepreneurs who are driving Morocco’s economic transformation.”
The IFC will also advise Tamwilcom on how to improve its systems, especially in agriculture and supply chain finance, while bringing them closer to international environmental and governance standards.
A push to widen access to finance
Tamwilcom, formerly known as the Caisse Centrale de Garantie, has been around since 1949 and is one of Africa’s oldest guarantee institutions. In 2025, it supported around $4.7 billion in financing through 70,000 transactions, backed by $2.7 billion in guarantees.
This new agreement is the first major step under its “Jossour 2030” strategy. The plan aims to bring in more private investment, spread finance beyond big cities like Casablanca and Rabat, and expand digital financial services in line with Morocco’s wider “Digital 2030” goals.
Links to wider global programmes
The initiative also connects with international efforts, including the World Bank’s gender strategy for 2024–2030, which focuses on improving access to finance for women, and the AgriConnect platform, which helps small farmers reach formal markets and digital banking tools.
There is also a growing focus on greener business practices, as European markets increasingly demand stronger environmental standards from suppliers.
An IFC report released in April 2026 found that Morocco’s creative industries are now creating more jobs than sectors like healthcare and financial services. Tamwilcom says it may expand support for creative entrepreneurs as part of its long-term plan.
In agriculture, the move lines up with Morocco’s role in a US-funded “Food for Progress” programme worth $226 million, aimed at improving farm productivity and helping farmers cope with water shortages and climate pressures.
