A funding commitment of MAD 30 billion in favor of 100,000 SMEs for the year 2020: Attijariwafa bank consolidates its commitment and supports the recovery of the activities of traders, craftsmen, professionals, and companies.

Casablanca, June 12, 2020 - At the time of the resumption of the economic activities which were impacted by the sanitary measures imposed within the framework of the management of the COVID-19 pandemic, the Attijariwafa bank group reiterates its commitment and its unfailing mobilization to accompany and support the traders, craftsmen, professionals and companies in order to enable them to succeed in the revival of their activities, after a phase of shutdown or slowdown, all under satisfactory conditions.

Indeed, after the solutions of maturity extensions of the Oxygen credit or of the Auto-Entrepreneur credit, and starting from the new measures decreed by the Economic Watch Committee, Attijariwafa bank deploys a new large-scale device, baptized RECOVERY OFFER, for companies of all sizes integrating the financing of the resumption of activity, innovative digital offers, as well as the accompaniment and the counseling, with the perspective to cross this crucial stage of the economic revival in the best way.

In terms of funding, the RECOVERY OFFER of Attijariwafa bank proposes a wide range of solutions for the resumption of the activity, among which the RECOVERY CREDIT backed by the Guarantee Fund of the CCG.

Thus, and until December 31, 2020, traders, craftsmen, professionals, VSEs, SMEs and Large Enterprises can access funding for their working capital needs in order to enable them to preserve employment as much as possible and to pay their suppliers as a priority, according to the following terms and conditions:

For companies whose turnover is less than MAD 10 million, the credit is up to 10% of the turnover with a maximum of MAD 1 million.

For companies whose turnover exceeds MAD 10 million, the amount of the credit can go to 1.5 months of turnover for those operating in industry and 1 month of turnover for those belonging to other sectors of activity, with a ceiling of MAD 100 million.

These offers revolve around a very advantageous credit rate, with a term of up to 7 years, including a 2-year grace period. They are backed by the CCG guarantee, «VSE Recovery» covering 95% of the credit amount and «Damane Recovery» for SMEs and LEs, covering between 80% and 90% depending on the level of turnover.

To provide additional support, many solutions are offered specifically within the framework of the RECOVERY OFFER, in particular investment credits to renew the productive apparatus or reinvent the business model, but also specific operating credits to relieve the operators’ cash flow.

VSEs and SMEs constitute the real foundation of our country’s economy and contribute massively to the creation of value and jobs. Also, Attijariwafa bank, the first bank of SMEs, renews its unfailing commitment to support the national economy by allocating for the year 2020 a budget of MAD 30 billion, devoted to new funding dedicated to the support and the revival of 100,000 SMEs.

This unprecedented funding commitment is accompanied by a system of non-financial services focused on training, counseling, and networking.

Attijariwafa bank, Bank and Committed

Media contact - Attijariwafa bank group

Mrs Ouafaa GHAOUAT

Media Relations Manager

Phone: 00212 522 54 53 57

Mobile: 00212 647 47 32 90

Email: O.Ghaouat@attijariwafa.com