MICROCAPITAL BRIEF: Middle East and North Africa (MENA) Transition Fund Grants $11m to Moroccan Youth Microentrepreneurship Projects

The Middle East and North Africa (MENA) Transition Fund, a financial intermediary fund established by the US-based World Bank in 2012 that provides grants to help countries implement social reforms, has sponsored a total of USD 11 million in grants for two projects that will aim to assist approximately 5,000 Moroccan youths with starting their own businesses and micro-enterprises [1].

The first project being endorsed is the Youth Micro-Entrepreneurship Project, which will receive USD 5.5 million from the MENA Transition Fund to advise approximately 5,000 entrepreneurs between the ages of 15 and 29 on how to develop sustainable and profitable businesses. It will also support national and local stakeholders that provide funding for youth microentrepreneurs. The project will be led by the Ministry of Youth and Sports.

The second project supported by MENA Transition Fund is the Microfinance Development Project. The project will receive USD 5.51 million from MENA Transition Fund and will be implemented by the Ministry of Economy and Finance. The project will aim to improve access to microfinance for small businesses and low-income households in Morocco and increase overall financial inclusion.

MENA Transition Fund has a total portfolio of USD 101 million as of July 2013.

By Meghan Gillis, Research Associate

About Middle East and North Africa (MENA) Transition Fund

The Middle East and North Africa (MENA) Transition Fund was formed in 2012 by the World Bank at the request of the Deauville Partnership with Arab Countries in Transition, a G8 organization that monitors historic changes in the MENA region. The Transition Fund is a financial intermediary fund that provides grants to help countries implement social reforms in “transition countries” in the region, which include Egypt, Jordan, Libya, Morocco and Tunisia. MENA Transition Fund has a total portfolio of USD 101 million as of July 2013.

Sources and Additional Resources

[1] The World Bank: “Supporting Entrepreneurship and Access to Microfinance for Morocco’s Youth,” http://www.worldbank.org/en/news/press-release/2013/07/25/supporting-entrepreneurship-and-access-to-microfinance-for-morocco-youth?cid=EXT_TWBN_D_EXT

MicroCapital brief, July 2, 2013, “MICROCAPITAL BRIEF: Silatech, Macroinvest, Jaida, Afif, ANAPEC, IYF, Ministry of Tourism to Support Moroccan Small and Medium-Sized Enterprises (SMEs), Youth,” https://www.microcapital.org/microcapital-brief-silatech-macroinvest-jaida-afif-anapec-iyf-ministry-of-tourism-to-support-moroccan-small-and-medium-sized-enterprises-smes-youth/

MicroCapital story, October 25, 2007, “MICROCAPITAL STORY: Morocco and Millennium Challenge Corporation (MCC) sign $697.5m Compact, JAIDA and Other Microfinance Programs to Receive $46.2m,” https://www.microcapital.org/microcapital-story-morocco-and-millennium-challenge-corporation-mcc-sign-6975m-compact-jaida-and-other-microfinance-programs-to-receive-462m/

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/

Similar Posts: