Meeting of the Board of the Central Guarantee Fund of February 12th , 2015 : 12/02/2015

Meeting of the Board of the Central Guarantee Fund of February 12th , 2015

Mr. Mohammed BOUSSAID, Minister of Economy and Finance chaired Thursday, February 12th , 2015, the 29th meeting of the Board of the Central Guarantee Fund (CCG), devoted to review the operation and set objectives in relation to the strategic directions of the Fund for the financial year 2015 and means to be used to achieve them.

At the opening of the session, the Minister argued that this meeting is part of an economic context characterized by a strong projected growth of the national economy.

To this end, the Minister recalled the priority the State gives to support businesses and traders for more growth, job creation and economic and social inclusion.

In this regard, Mr. BOUSSAID welcomed the diversification and improvement of the attractiveness of the Central Guarantee Fund’s products. He pointed out that these actions allowed it to fully achieve the objectives set and develop the lever of the guarantee regarding the support service to the financing of very Small, Small and Medium-sized Enterprises (TPME), and access to low-income housing

He noted with satisfaction the significant changes in the activity of the Central Guarantee Fund whose intervention in 2014 benefited 3,100 businesses and 28,459 individuals.

When asked to present the items on the agenda, Mr. Hicham zanati SERGHINI, CEO of the (CCG), outlined the results of the activity which totaled in 2014 nearly 13 billion dirhams new loans guaranteed With commitments totaling 8.38 billion dirhams, for an annual increase of 22%.

In accordance with this activity, Mr. SERGHINI specified that this improvement is particularly related to the activity linked to micro-businesses with strong growth of around 41% of the guaranteed loans which reached 7 billion dirhams.

Regarding service for individuals and which focuses on loan guarantees for access to housing, it has ensured nearly 6 billion dirhams of bank loans, including 4.2 billion dirhams in under the Damane Assakane Fund for 22,743 households, an increase of 27% in number of beneficiaries and 20% by volume of commitments compared to 2013.

​The Board which welcomed these positive achievements subsequently approved the production targets for the year 2015, set at DH 10.3 billion, an increase of almost 23% compared to 2014 for total appropriations of 14.4 billion dirhams