US Opic and Wells Fargo sign MoU with Moroccos Attijariwafa Bank

Washington  –  The US Overseas Private Investments Corporation (OPIC), Morocco’s Attijwariwafa Bank and the Wells Fargo financial institution concluded a memorandum of understanding to deepen cooperation to expand lending to small and medium enterprises in Morocco and other African countries.The document was signed in Washington by OPIC President Elizabeth Littlefield, Chairman and CEO of Attijariwafa Bank Mohamed El Kettani, and Wells Fargo executive vice president, Thomas McCaffery (left), on the sidelines of the US-Africa leaders summit held in the federal capital this August 4-6.OPIC president noted that SME lending was a critical component to job creation and economic stability in the developing world, but it only worked when banks were committed to working with some of the smaller businesses that faced challenges obtaining financing.

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