Morocco has announced the launch of an aid plan for the creation of small businesses, encouraging projects run by young people and with low-rate credits favoring rural areas. Intended to create jobs by encouraging the spirit of enterprise, this plan supported by the State and by the banks provides for capping at 1.75% the interest rate on loans for beneficiaries in rural areas and at 2% in urban areas, « the lowest rate ever applied in Morocco », according to a joint press release from the Ministry of the Economy and the central bank, Bank Al-Maghrib. This « integrated business support and finance program » expects to create 27,000 jobs annually, supporting 13,500 new businesses each year.
