PROJECT

Projects

Summary of Investment Information

Project Number

51716

Company Name

FONDATION ARRAWAJ DE LA FINANCE INCLUSIVE

Date SPI Disclosed

Feb 27, 2026

Country

Morocco

Region

Africa

Projected Board Date

Mar 30, 2026

Environmental Category

FI-3 - No Impact

Status

Pending Disbursement

Last Updated Date

May 16, 2026

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : May 6, 2026
Signed : May 13, 2026

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

The proposed investment consists of a senior loan to Fondation Arrawaj de la Finance Inclusive (Arrawaj or the Borrower), Morocco’s third-largest microcredit association, to support its lending program to micro and small enterprises, including women owned businesses. The financing will be provided in U.S. dollars (USD), euros (EUR), or in Moroccan dirham (MAD) equivalent, with a maturity of up to five years. The project is processed under the MSME Finance Platform (BOP envelope).

Associated Advisory Engagement

IFC is supporting the Borrower in strengthening its core operations through (i) product enhancement and development, (ii) improvements in risk management, (iii) capacity building, and (iv) transformation and business planning. The advisory program would further enable Arrawaj to capture new growth opportunities in the Moroccan market

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation