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Monday, July 15, 2024

Government Launches “Forsa” Program to support project leaders

The effective launch of the “Forsa” government program was given Tuesday in Rabat by minister of Tourism, Handicrafts, Social and Solidarity Economy, Fatim-Zahra Ammor.

Announced by the government on March 11, this ambitious program has a budget of 1.25 billion dirhams (MAD) for 2022. This budget will support project leaders from the ideation phase to the effective implementation of their projects, 10,000 in total, by the end of this year.

On this occasion, Mrs. Ammor underlined that the effective implementation of “Forsa” is part of encouraging young project leaders to start their projects and ensure their financial independence.

She also recalled that this program is launched in execution of the High Royal Guidelines aimed at supporting and strengthening youth entrepreneurship and promoting their contribution to the socio-economic development of Morocco.

Forsa’s support system includes, on the one hand, e-learning training for all the projects selected, followed by a 2.5-month incubation for the benefit of the most innovative projects.

Calls for tenders have already been launched to select partner establishments from local incubators, represented by civil society organizations, specialized in supporting and monitoring entrepreneurial projects.

On the other hand, the funding component provides for a loan of honor at a zero rate, up to 100,000 dirhams, including a grant of 10,000 dirhams for all the projects selected. The program, entirely financed by the State, allows project promoters to repay the loan over a maximum period of 10 years, with a grace period of 2 years.

Forsa’s innovative approach, which combines support and financing, provides fair, equitable and inclusive access to the skills and capital necessary for entrepreneurship, in line with the High Royal Guidelines for the promotion of investment and employment.

It is a national opportunity to develop the potential of all those who have the ideas and the motivation necessary to embark on the entrepreneurial adventure. It is also a strong commitment in favor of all the people who have a project but lack the tools and capital to implement it.

Regional equity is another Forsa commitment to make business creation a lever for socio-economic development adapted to the needs of each region, while stimulating the already existing ecosystem.

In addition, the involvement of the various stakeholders in the entrepreneurial ecosystem from the first ideation stages has enabled the program to be deployed quickly and efficiently, with the support of a network of solid partners at the regional level, in particular the regional investment centers (CRI), microfinance organizations and local incubators.

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