The fund is aimed at reinforcing the equity financing offer in favour of Moroccan innovative startups with a strong growth potential.
Speaking on the occasion, Minister of Economy and Finance, Mohamed Boussaid, said that the fund will offer funding-for-equity through smart debts to 300 project holders.
The fund offers real opportunities in terms of support and funding for startups and innovative project holders, the Minister added.
Senior economist at the World Bank, Randa Akeel said the fund is aimed at boosting Morocco's venture capital market and supporting young Moroccan entrepreneurs.
She noted that the World Bank contributed by $50 million to the project.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.