Casablanca – The Central Guarantee Fund (CCG), a key player in supporting businesses and facilitating access to finance, will have to end 2020 with a total of 85,000 to 86,000 additional loans, the Director General estimated on Thursday. from the Caisse, Hicham Zanati Serghini.
“In a difficult context marked by an unprecedented period of cessation of activity, we end the year 2020 with 3 times more than what we have achieved before, ie with 85,000 to 86,000 additional loans to what we usually do”, said Zanati Serghini, who was speaking during a webinar on the theme “2020 review and prospects for recovery in Morocco”.
“Our balance sheet remains positive,” said the official, highlighting “the transformation of the institution which is now experiencing a radical change in terms of governance”.
“We want to be efficient and provide all the necessary and logical answers to the problem of financing”, assured Mr. Zanati Serghini.
Addressing the various recovery mechanisms carried out by the CCG, the manager cited the product “Damane Oxygen”, launched during the confinement period, as the first response to the health crisis in favor of companies, and then “Damane Relance”, a product to support companies during their resumption of activities.
The manager pointed out that this second device aims to revive the activity of companies, especially in the fields of tourism, the hotel industry and real estate, through the guarantee of loans intended to finance their needs. in working capital, repayable over a period of 7 years, with 2 years deferral.
He also highlighted the Guarantee Fund which will allow public enterprises, hard hit by the crisis, to raise funds. It is, he noted, a device where “the Central Guarantee Fund will play a leading role”.
For his part, the Vice-President of the General Confederation of Moroccan Enterprises (CGEM) and President of the VSE-PME Commission, Mohamed Talal, indicated that “the Moroccan small business is fragile in an uncertain environment, where the health crisis linked to Covid-19 has severely tested the resilience of many sectors of activity and where SMEs remain the first exposed ”.
The work of the Economic Watch Committee (CVE) where the CGEM sits, made it possible to bring “concrete and immediate solutions”, namely cash products such as “Damane Oxygène” or “Damane Relance”, he said. recalled, stressing that the year 2020, which is about to come to an end, has seen the establishment of a range of measures by way of tax amnesty, which will be used by companies to “resume their activities on the basis of solids ”.
For a “serene” but above all “certain” recovery, Mr. Talal considered that “it is time to forget the past and look to the future”. “It is necessary to set up a real system of economic intelligence to develop a mapping encompassing all economic, political and social policies at the international level, so that we can, at the national level, reposition ourselves on a new chessboard” , he insisted.
He also underlined the need to conquer new markets to meet new needs and consumption patterns that emerge and change permanently, to establish a solid and adapted research and development system, and to support technological development and accelerate the digitization of our companies and administrations.
For his part, Houda Lahrech, Principal Banker at the European Bank for Reconstruction and Development (EBRD), highlighted the involvement of the EBRD in the recovery, by developing an “integrated” and “rapid” response. the crisis, particularly in terms of financing and support for various investment projects, with the objective of dealing with liquidity crises and working capital needs (WCR), and problems related to the collection of income and payment of suppliers.
“Our support for our Moroccan partners has been established through several components, namely the provision of short-term credit lines to banks, and the design of large-scale programs to support economic operators in Morocco, ”she remarked.
Ms. Lahrech assured that the Berd is setting priorities to revive the Moroccan economy in 2021. “Measures are necessary to consolidate infrastructure, further strengthen the role of green energies and promote universal access to telecommunications,” t -she says.
Emphasis must also be placed on improving banks’ loan portfolios and promoting trade integration and global value chains, added Ms. Lahrech, recalling that the EBRD, which ensures “to encourage investment from private sector in infrastructure through public private partnerships (PPP), has “a large portfolio of PPP projects covering a multitude of sectors in several countries”.
Initiated by “Économie Entreprise Live, in partnership with the CCG, this virtual meeting was an opportunity to discuss the various recovery mechanisms put in place in 2020, as well as the recovery prospects for next year.
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