Global Economy
Morocco Signs Groundbreaking Charter to Boost Funding for Micro‑Enterprises
On 4 December 2025, Morocco’s Ministry of Economy and Finance together with key public and private partners signed a new Charter aimed at opening credit lines, improving risk‑rating tools and providing tailored support to micro‑enterprises, which account for roughly 94 % of the national production fabric. The agreement aligns with King Mohammed VI’s royal directives on reducing regional disparities and fostering inclusive growth, and it creates a dedicated TPE Committee to monitor implementation. The Charter introduces a preferential refinancing mechanism from Bank Al‑Maghrib, upgraded credit‑scoring models, and coordinated training and technical‑assistance programmes for small firms, signalling a decisive step toward a more inclusive financial ecosystem in Morocco.
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Background and Objectives
On 4 December 2025, a coalition of ministries, regulatory bodies and private‑sector representatives gathered in Rabat to sign the Charter for the Financing and Support of Micro‑Enterprises (TPE). The signatories include the Ministry of Economy and Finance, the Ministry of Investment, Convergence and Public‑Policy Evaluation, Bank Al‑Maghrib, Tamwilcom, Maroc PME, the Professional Group of Moroccan Banks (GPBM), the National Federation of Micro‑Credit Associations (FNAM), the General Confederation of Moroccan Enterprises (CGEM) and the Moroccan Foundation for Financial Education (FMEF).
The charter operationalises the high‑level directives announced by His Majesty King Mohammed VI during the July 30 2025 royal speech on the Throne Day, which called for reducing social and territorial disparities and promoting integrated territorial development.
Key Commitments
- Financing for TPE: Banks, micro‑finance institutions and Tamwilcom will roll out reinforced credit and guarantee products specifically designed for micro‑enterprises. Bank Al‑Maghrib has already launched, as of March 2025, a preferential refinancing facility for TPE at a reduced rate.
- Credit Rating Upgrade: Financial institutions will upgrade internal rating models to better capture the particularities of TPE, integrating scores from a forthcoming national scoring system slated for early 2026.
- Business Support: Signatories will coordinate training, awareness and technical‑assistance programmes tailored to the needs of micro‑enterprises, ensuring a holistic support framework throughout their life‑cycle.
To ensure accountability, the charter establishes a dedicated TPE Committee tasked with monitoring the implementation of all commitments.
Overall, the initiative targets a sector that makes up about 94 % of Morocco’s productive fabric and is a major source of employment, yet whose economic potential remains under‑exploited. By removing barriers and fostering inclusive growth, the charter aims to unlock this latent potential across the whole country.