The director of operations of the European Investment Bank (EIB) in the neighboring countries of the European Union (EU), Flavia Palanza, underlined, Thursday in Casablanca, the importance of placing the private sector at the heart of the recovery. economy in Morocco.
It is a question of mobilizing investment and facilitating access to financing for this sector, in addition to accelerating the transformation of the Moroccan economy towards a sustainable and inclusive model, indicated Flavia Palanza who spoke at the the second meeting of the “Morocco 21” conference cycle, initiated by News Com Africa Holding (NCA Holding) and devoted to access to financing for small and medium-sized enterprises (SMEs).
The Director of EIB Operations in EU neighboring countries also highlighted the need to create quality jobs, following in particular the recommendations of the special commission on the New Development Model (NMD), as well as implement the national financial inclusion strategy and enrich the offer of financial instruments capable of enabling SMEs to finance their investment projects.
This conference, organized in partnership with Tamwilcom, a public financial guarantee and financing institution, was also an opportunity for Flavia Palanza to note that “the common characteristic of a booming economy is a booming SME sector”. . It is a driving force for economic development around the world, actively contributing to innovation, job creation and investment, she noted. And to continue that SMEs in Morocco find it difficult to invest, increase added value and develop on a larger scale.
“Moroccan microenterprises and SMEs represent around 99% of the number of companies and 73% of employment, with only 37% of added value compared to 63% for large companies (whose turnover exceeds 175 million dirhams)”, said Flavia Palanza. In Morocco, she argued, company size is strongly correlated with having a bank account, a line of credit or the use of self-financing, adding that SMEs have been hit disproportionately by the consequences of the Covid-19 crisis.
NCA Holding launched last November the “Morocco21” conference cycle, an initiative aimed at deepening reflection and sharing of know-how in the construction of Morocco in the 21st century.
Each conference proposes to focus on strategic areas in the implementation of the new development model, with the contribution of international experts to enable sharing of experience and best practices with world leaders. About a hundred guests, experts, decision makers, business leaders and civil society actors, are invited with the aim of enriching the exchanges and deepening the discussion.
The first “Morocco 21” conference was devoted to the digital security of organizations in their digitalization process, a pillar of transformation in the recommendations of the Special Commission on the Development Model. Among the essential projects that will be tackled in the coming months are the skills of the professions of the future, the ecosystems of scientific research and innovation, the acceleration of clean energies, the environment as a lever for the creation of wealth, the inclusion of rural world or Dakhla as a new African hub for foreign investment.
The world’s leading multilateral funder, particularly for financing climate action, the EIB is a non-profit institution, the financial arm of the EU. It implements EU funding policies. Its shareholders are the 27 EU Member States.