The period of drawing on “Damane Relance” credits, one of the guarantee mechanisms aimed at mitigating the effects of the crisis induced by the new coronavirus (Covid-19), is going from 6 to 12 months, announced on Friday in Casablanca, the Director General of the Central Guarantee Fund (CCG), Hicham Zanati Serghini.
This extension, the result of consultations between the various stakeholders, “will give companies the time necessary to finance their relaunch”, underlined Serghini, speaking at the signing ceremony of a partnership agreement between the General Confederation of Enterprises. of Morocco (CGEM) and the CCG to set up a new service “Corridor CGEM-CCG”.
“The signing of this agreement strengthens our already fruitful collaboration with CGEM. We are in fact fully mobilized to provide the best support to companies for better access to our various financing mechanisms.“, he said.
The “Damane Relance” product was rolled out on June 15 by the CCG in favor of small, medium and large companies with a turnover (turnover) exceeding 10 million dirhams (MDH). The amount of the guaranteed credit is set at 1.5 months of turnover for companies in the industrial sector and 1 month of turnover for companies in other sectors.
The guarantee ratio of this guarantee mechanism varies from 80 to 90%. Guaranteed loans must be intended, at least 50% of their amount, for the payment of suppliers, thus promoting inter-company financing
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