Supporting Access to Finance for Micro, Small and Medium Enterprises with Partial Credit Guarantees : The Moroccan Experience

Micro, Small and Medium Enterprises (MSMEs) represent an important pillar of the Moroccan economy. Estimates indicate they account for more than 90 percent of all enterprises and contribute to 21.6 percent of total employment. These numbers only reflect the statistics of the formal economy: Their contribution to the real economy is significantly higher if the economic activity of the informal sector were to be included. Most MSMEs are in the services sector, followed by manufacturing and trade. The Moroccan government has acknowledged the importance of MSMEs for the national economy and has developed a number of initiatives aimed at improving the enabling environment for these firms. A new national strategy aimed at promoting the development of small enterprises was elaborated in 2011, which includes a simplified taxation system, adapted social charges, extended social security coverage, and specific banking products.

Bibliographic Details

Main Author:	Aziz, Teymour Abdel
Format:	Brief biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2013-04
Subjects:	ACCESS TO CREDIT, ACCESS TO FINANCE, ACCESS TO FINANCIAL SERVICES, ACCESS TO FINANCING, ADMINISTRATIVE BURDENS, BANK CREDIT, BANK FINANCING, BANKING SECTOR, BANKING SYSTEM, BANKS, BORROWER, BRANCH, BRANCH NETWORKS, BUSINESS DEVELOPMENT, BUSINESS DEVELOPMENT SERVICES, COLLATERAL, COMMERCIAL BANKING, CORPORATE PROFIT, CORPORATE PROFIT TAX, CORPORATIONS, CREDIT GUARANTEE, CREDIT GUARANTEES, CREDIT MARKET, CREDIT PRODUCTS, ECONOMIC ACTIVITY, ECONOMIC CRISIS, ELIGIBILITY CRITERIA, EMPLOYMENT, ENABLING ENVIRONMENT, EXPANSION, EXPORTERS, FEMALE ENTREPRENEURS, FINANCIAL ACCESS, FINANCIAL DIFFICULTIES, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL SUPPORT, FINANCIAL SYSTEM, FORMAL ECONOMY, GUARANTEE PRODUCT, GUARANTEE PRODUCTS, GUARANTEE SCHEMES, INFORMATION ASYMMETRY, INSTRUMENT, INVESTMENT LOANS, LEASING, LEVERAGE, LOAN, LOAN GUARANTEES, MARKET FAILURES, MICRO ENTERPRISES, MICROCREDIT, MICROENTERPRISES, MICROFINANCE, MICROFINANCE INSTITUTIONS, NATIONAL CREDIT, PARTIAL CREDIT, PAYMENT SERVICES, POSTAL BANK, PRIVATE EQUITY, PROPRIETORSHIPS, REGULATORY REFORMS, RISK MANAGEMENT, RISK MITIGATION, SAVINGS, SINGLE BORROWER, SMALL & MEDIUM ENTERPRISES, SMALL ENTERPRISES, SMALL FIRMS, SME, SME FINANCING, SOCIAL SECURITY, START-UPS, TAX INCENTIVES, TAXATION, TECHNICAL ASSISTANCE, TECHNICAL SUPPORT, UNION, WOMAN, WORKING CAPITAL,
Online Access:	http://documents.worldbank.org/curated/en/2013/04/18107386/supporting-access-finance-micro-small-medium-enterprises-partial-credit-guarantees-moroccan-experience http://hdl.handle.net/10986/16126
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