Credit du Maroc, Morocco’s seventh-largest privately owned bank, is set to receive a $13.5 million (MAD125 million) risk-sharing facility from the International Finance Corporation (IFC) to expand lending to small and medium-sized enterprises in the country’s agricultural and rural sectors.

Under the proposed facility, IFC will guarantee up to 50% of Credit du Maroc’s credit risk on a targeted portfolio of eligible SME loans totalling MAD250 million ($27 million), helping the bank increase financing for agricultural businesses while strengthening financial inclusion and productivity across Morocco’s rural economy.

The facility is designed to improve access to finance for agricultural SMEs while supporting productivity, financial inclusion and the resilience of Morocco’s agricultural value chain.

IFC targets agricultural SME financing

Under the proposed structure, IFC will provide an unfunded Risk Sharing Facility (RSF) in partnership with an agri-technology company, covering potential losses on eligible agricultural SME loans originated by Crédit du Maroc.

The project is supported by the Global Small and Medium Enterprises Financing initiative and will be accompanied by IFC advisory services aimed at strengthening Credit du Maroc’s capacity to scale agricultural SME financing. The advisory programme will focus on capacity building and improving the productivity of SMEs operating across Morocco’s agricultural sector.

Credit du Maroc expands rural lending

Credit du Maroc, headquartered in Casablanca, began operations in 1929 as Credit Lyonnais before adopting its current name in 1966. The bank has been listed on the Casablanca Stock Exchange since 1976 and provides financing and savings services to individuals, professionals and corporate customers across Morocco.

As of December 2024, Credit du Maroc ranked as the country’s seventh-largest privately owned bank by total assets. Holmarcom Group is the bank’s largest shareholder, holding a 67.4% stake through Holmarcom Finance Company, which owns 54.6%, and insurance company AtlantaSanad, which holds 12.8%.

Facility targets broader agricultural impact

IFC expects the project to increase access to financing for agricultural SMEs while demonstrating the commercial viability of lending to the sector. The investment is also intended to strengthen the resilience of agricultural supply and value chains by encouraging greater private-sector financing across rural economies.

Credit du Maroc already operates an environmental and social management system aligned with Moroccan regulations and IFC Performance Standards. Under the facility, the bank will be required to screen eligible borrowers against IFC requirements and strengthen its tools for managing risks related to areas including child labour and biodiversity.

The proposed financing represents IFC’s latest effort to use risk-sharing and blended finance structures to expand access to capital for underserved agricultural businesses while supporting Morocco’s broader financial inclusion and rural development agenda.