Morocco - Support Program for Financial Inclusion, Entrepreneurship and Micro-enterprises for Economic Recovery (PIFE)

Project Summary

Approval Date 24 Nov 2021
Signature Date 14 Dec 2021
Planned Completion Date 31 Dec 2022
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Environmental Category 3
Commitment U.A 92,457,046
Status Implementation

Project General Description

The proposed operation is for a loan of EUR 120 million to contribute to the financing of the Financial Inclusion, Entrepreneurship and SME Support Programme for Economic Recovery (PIFE) in Morocco. PIFE is a continuation of the COVID-19 Response Support Programme (PARC 19), approved by the Bank in 2020, providing support to economic recovery by deepening reforms on financial inclusion and entrepreneurship. It constitutes sector budget support backing reforms that will be implemented to achieve the following specific objectives: (i) support financial inclusion and (ii) boost entrepreneurship and the resilience of MSMEs and (iii) simplification of procedures. The Programme is built around two main guidelines: (i) support the authorities in the implementation of reforms aimed at boosting the private sector which drives economic recovery, by facilitating financing; and (ii) better support MSMEs which make up 95% of the country's economic fabric. PIFE will be implemented in 2021/2022.

Project Objectives

The main objective of the program is to finance economic recovery in order to enable businesses to restart, revive activity and maintain employment. To achieve this objective, the program supports reforms in the area of inclusive finance in order to facilitate the financing of SMEs and households, support entrepreneurship and improve the business climate by simplifying administrative procedures.


PIFE will benefit Morocco’s population as a whole through improved financial services that support MSMEs and create employment. In particular, it will benefit: (i) Moroccan MSMEs, by removing the obstacles to their business growth, particularly financing; improving the business environment through simplification of procedures; and expanding access to government contracts; (ii) young entrepreneurs and women in urban and rural areas who will be supported under the national INTELAKA programme; an estimated 30,000 entrepreneurs, at least 38% of them being the youth (i.e., percentage of young people in the population), will benefit, thus leading to the creation of 80,000 direct jobs; (iii) informal sector workers and the unemployed, a large proportion of them being women, who will be supported under the INTELAKA scheme.

Participating Organization

African Development Bank


IATI identifier 46002-P-MA-H00-020
Last Update 06 Feb 2023


Contact Details


Geographic Location

Country Morocco
Coordinates Location Name
34.0133 -6.83255 Rabat