Forsa 2023: the 2ᵉ edition of Morocco's free credit program for project leaders

The second edition of the Forsa Morocco was announced on Wednesday by the Minister for Tourism, Crafts and the Social Economy, Fatim-Zahra Ammorin a speech to the House of Representatives Productive Sectors Committee. In her speech, Fatim-Zahra Ammor said that, following the success of the first edition of ForsaNext month, the Ministry will launch the second phase of this program, which aims to finance over 10,000 projects.

The digital platform will soon be available to receive funding applications for the 2nd edition of Forsa. As in the case of the first edition, applications for the second edition of the Forsa program will be made via the Forsa.ma digital platform.

The first edition of Forsa succeeded in reaching the funding target of 10,000 projects at 100%, thanks to the efforts of the various working teams and the new working methods adopted.

With regard to the results of the first edition of this program, the Minister indicated that 50% of the projects financed enabled their holders to move on to activities in the formal economy, noting that 65% of the beneficiaries are aged between 18 and 35, and that women represent 20% of the applicants and beneficiaries of the Forsa program.

What is the Fora program?

The Forsa program was created in 2022 by the Moroccan government as part of its efforts to encourage employment and investment, particularly among young people. It comprises two schemes: financing and mentoring:

Support The program includes online training for all selected projects and a 2.5-year incubation period for the best ideas, mobilizing incubated structures at entity level.

Financing This program provides an honorary loan of 100,000 DH. The maximum loan repayment period is 10 years, with the possibility of a 2-year grace period.

"Forsa" is a program open to all Moroccan residents and Moroccans living abroad, aged 18 and over, with feasible projects. Targeted project holders may be cooperatives, independent micro-entrepreneurs, or innovative or emerging entrepreneurs who are brand new or have been in business for less than three years.