Jaida financing reaches $470 million as support widens

Jaida financing has reached MAD 4.7 billion, or about $470 million, since the institution began operations in 2007, reinforcing its role in expanding financial inclusion and supporting Morocco’s social economy.

The refinancing institution, a subsidiary of the CDG Group, said it has completed 82 financing operations that have benefited nearly 2 million end users. Over the past two decades, Jaida has provided refinancing support to seven microcredit associations operating across Morocco and to Tamwil El Fellah, a financing company focused on small-scale agricultural activities.

Agriculture represented the largest share of Jaida’s portfolio at 41%, followed by commerce at 36%, other sectors at 17%, and crafts at 6%. The institution reported that 55% of the income-generating activities financed through its programs were based in rural areas. Women accounted for 31% of supported project leaders, reflecting the institution’s commitment to financial inclusion.

Since its establishment, Jaida has mobilized MAD 3 billion from impact investors and development partners through public-private partnerships at both national and international levels. In 2025, the institution recorded an outstanding portfolio of MAD 686 million and annual financing production of MAD 310 million.

A major milestone came in September 2025 when Bank Al-Maghrib authorized Jaida to extend its activities beyond microfinance institutions. The approval enables the organization to finance actors operating within Morocco’s Social and Solidarity Economy.

Under the expanded mandate, Jaida can now support cooperatives, aggregators, and national and regional funds, sectors that have historically faced challenges in accessing traditional financing. The institution said the move is aligned with Morocco’s New Development Model and the National Financial Inclusion Strategy.

To support this new phase, Jaida is developing financial products tailored to the needs of Social and Solidarity Economy organizations. Pilot projects are expected to begin in 2026 alongside technical assistance programs aimed at strengthening the capacities of cooperatives and other social economy stakeholders. The institution seeks to position itself as a leading impact finance player in Morocco.