Through this acquisition, Proparco and the private equity fund SPE AIF I will support the development of Morocco's leading antibiotics manufacturer. This operation illustrates Proparco's strong commitment to local production and access to quality medicines in Morocco and on the African continent.

Proparco has signed in Sharm el Sheik a $5.8 million investment in the 1st closing of the Sawari Ventures North Africa Fund I. This fund will invest in nearly 25 fast-growing start-ups in Egypt, Morocco and Tunisia.

Decent, affordable housing is crucial to development. It determines living standards; its location affects employment opportunities, while its mass construction can generate thousands of jobs. In most poor countries, however, both public policies and commercial organizations have largely mimicked the processes of highincome countries, catering only for their elites. This has led to ordinary people being marginalized, with millions condemned to self-built structures in informal settlements.

Proparco's offices in Casablanca covers the entirety of North Africa.
The countries of operation are: Algeria, Egypt, Libya, Morocco and Tunisia.

After being imagined and incubated by the AFD Campus du Développement, the Social & Inclusive Business Camp (SIBC) will be piloted over the next three years by I&P Conseil and its partners - African Management Institute, ScaleChanger and StartupBRICS - to accelerate its deployment, particularly in Africa. This hybrid coaching program dedicated to entrepreneurs in their scale up stage and producing societal impacts will be organized by the consortium with the close support of the AFD and the programme's historical partners. This year's Covid-19 crisis shows that our societies must take responsibility for environmental and social inclusion issues. We need to rapidly develop capacities for resilience and societal innovation, and to do this we need innovative social entrepreneurs more than ever.

Therefore, for its 2020 edition, the SIBC is committed to working alongside entrepreneurs to strengthen their capacities for growth and resilience in the face of an unprecedented economic and health crisis, notably through the construction of an ad hoc "SOS Covid" course, available in English and French, for all candidates to the programme as well as the existing community. This 4th edition, still focused on societal innovations, will once again highlight the themes of environmental responsibility, technical innovations to serve the most vulnerable through e-health or ed-tech.

Supporting responsible microfinance in rural areas in Morocco

Proparco and IFC, a member of the World Bank Group, are investing €35 million and €100 million respectively, in the first green bond issuance by Banque Centrale Populaire (BCP), to promote sustainable, environment friendly projects in the country.

This is the first green bond issuance in foreign currency in Morocco, as well as IFC and Proparco’s first green bond investment in the region.

To assist the city of Casablanca, Morocco’s economic capital, with the major challenges involved in waste management, BMCI has agreed to provide financing, backed by a Proparco guarantee, to Arma Casablanca so that the company can update and upgrade the city’s waste removal and sanitation facilities.

Imperium Holding, a global leader in luxury tea and infusion packaging, has obtained a joint investment of €25 million from Proparco along with the Danish Investment Fund for Developing Countries (IFU), and Si Advisers LLP (Si) to support the group’s ambitious development plans and drive positive social and environmental impact.

Amethis, an investment fund manager dedicated to the African continent, has announced the first closing of the Amethis MENA Fund II (AMF II) at EUR 85 million.

A financing package from IFC and Proparco will help Dolidol, a Moroccan manufacturer and distributor of polyurethane (PU) foam and bedding products, expand its production and sales to Nigeria, and green its operations in Morocco, creating hundreds of direct and indirect jobs in those countries.