Morocco

 

Al Karama
 

Al Karama is a dedicated MFI headquartered in Oujda and serving Morocco’s poor and under-served Eastern region. Al Karama began its activities in 1999 and has nearly 7,500 active clients with an outstanding loan portfolio of over US $2 million. Al Karama plans to continue serving those most in need in Morocco and it aims to reach 47,000 active clients with an outstanding loan portfolio of US $14.5 million by 2010. Al Karama’s recent organization and hosting of Morocco’s first regional forum for microcredit in the Eastern region of Morocco provided the opportunity for Morocco’s MFIs to discuss the issues surrounding microfinance in this area and highlighted to policy makers the importance of promoting expanded services to the poor in Eastern Morocco.

Al Karama’s poverty focus made it a strong candidate for Grameen – Jameel partnership; it became a formal partner in 2006.

 

Fondation pour le Développement Local et le Partenariat – Micro-crédit (FONDEP)
 

Launched in 1996 in Rabat, FONDEP is Morocco’s fourth largest MFI with nearly 54,000 active borrowers and an outstanding portfolio of approximately US $13.9 million. FONDEP’s mission is to provide microfinance services to Morocco’s poor, with an emphasis on women and youth in rural areas. Since its inception, FONDEP has experienced impressive growth and its goal is to reach 230,000 active clients with an outstanding loan portfolio of $97 million USD by 2010.

FONDEP became a Grameen – Jameel partner in December, 2004 and became the Initiative’s first and only High Growth Partner in July of 2005, signifying FONDEP’s commitment to continued rapid expansion and outreach to the poorest.