Moroccan micro-finance associations granted loans totalling Dhs 5 bn (around Ђ500 m) by the end of September 2004, which is a 47 per cent rise compared to the amount granted by the end of December 2003, a report of the micro-credit associations federation
(FNAM) announced.
The document, released on the occasion of the international micro-credit year, said the sector counts 11 associations that are member of the FNAM, and some 403,000 beneficiaries, including 71.3 per cent of women. The number of beneficiaries went up by
34 per cent in 2004.
Micro-lending and related activities helped create 1.745 jobs by the end of September 2004, which is a 75 percent increase compared to the 1000 jobs created by the end of
December 2003.
