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Thursday, January 25, 2007

Grameen-Jameel Loans USD 10.6 mn to Moroccan Microfinance Institution Fondation Zakoura

» Posted by MicroCapital Team in Category: Key Players at 5:06 pm

Grameen-Jameel, the partnership of the Grameen Foundation and the Abdul Latif Jameel Group, a Saudi Arabian holding company, agreed to support microfinance in the Arab World through a USD 10.6 mn loan to Fondation Zakoura, a Moroccan Microfinance Institution (MFI). The loan is being provided by Société Générale Marocain de Banques (SGMB), a privately-held Moroccan bank, and secured by USD 5 mn (USD 2.5 mn each) in guarantees from the Grameen Foundation Growth Guarantee Program and the Mohammed Jameel Guarantee Fund.

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