Mrs. Doris KÖHN, Senior Vice President of KfW and Mr Zine El Abidine OTMANI, Director of FONDEP, signed a convention of partnership on Monday January 15th in Rabat This agreement  concerns a loan of euros 10 million, refundable loan over eight years with a grace period of 2 years. Very active in the microfinance in the world, this operation is the first concretized by KfW directly with a MCA in Morocco. The German bank of development aims by this agreement at accompanying the Moroccan institution in the development of its activity of financial support to poor populations.

The two institutions wish to build their partnership in the durability and the proximity and intend to carry out jointly in the future other projects in favour of the entrepreneurship and the consolidation of the sector of micro-credit in Morocco.

KfW Entwicklungsbank finances investments and accompanying consulting services in developing countries. It carries out its work on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
KfW Entwicklungsbank is committed to the primary goal of German development cooperation, namely to sustainably improve the economic and social conditions of the people in developing countries. Through its Financial Cooperation (FC) it contributes to reducing poverty, protecting natural resources and securing peace worldwide.
In Morocco, KfW  operates more particularly within the framework of “INDH” (National Initiative for Human Development), in programs of water resources management, in programs of environmental and natural resources protection, and program of sustainable economic development.
KfW Entwicklungsbank works in microfinance since the 80’s and it’s the most important operator from international financial community in the sector as regards volume and also on the conceptual level. Its engagements in favour of microfinance represented euros 580 million at the end of 2005. Currently, KfW Entwicklungsbank finances, in the name of and for the federal Ministry of economic Co-operation and Development (BMZ), 92 projects of microfinance in 39 developing countries and country in transition, reaching by this way more than 12 million people.