The 5th Annual Conference of the Euro-Mediterranean Guarantee Network (EMGN), titled “Expanding Financial Horizons: Mainstreaming Credit Guarantees for Mediterranean SMEs,” successfully took place on February 20, 2025, in Rabat, Morocco. The event was co-organized by TAMWILCOM, the European Institute of the Mediterranean (IEMed), the Euro-Mediterranean Economists Association (EMEA), and the MED Confederation.
Held against the backdrop of economic inequality, limited SME access to finance, and the increasing impact of climate change, the conference underscored the critical role of local credit guarantee schemes (CGS) in fostering economic resilience and sustainability across the Mediterranean. Despite the significant role of CGS, discussions highlighted that their use remains limited within SME lending portfolios. The event served as a platform for financial leaders to deliberate on best practices, policy recommendations, and mechanisms to enhance the outreach and impact of these schemes.
The conference opened with welcome speeches by Hicham Zanati Serghini, CEO of TAMWILCOM; Mohammed Tarek Bchir, Acting Head of the Department of Treasury and External Finance, Ministry of Economy and Finance, Kingdom of Morocco; Nagla Bahr, EMGN Lead Representative and Executive Board Member of CGC Credit Guarantee Company – Egypt; and Nasser Kamel, Secretary General of the Union for the Mediterranean.
Following the welcome speeches, Roger Albinyana, Managing Director of IEMed, and Prof. Rym Ayadi, Founder and President of EMEA, addressed the audience with opening remarks. In her speech, Prof. Ayadi emphasized the importance of guarantee schemes, stating, “Guarantee schemes must not only de-risk finance but also de-risk the future—by equipping businesses, financial institutions, and workers with the skills to navigate uncertainty and drive sustainable growth.”
Key Sessions and Discussions
Session 1: EMGN Members’ Impacts and Success Stories
The first session, titled “EMGN Members’ Impacts and Success Stories,” featured a presentation by Christine de Visser, EMEA Project Manager, on “EMGN Impact and Consolidated Report on Members’ Performance.” This was followed by a discussion on key takeaways from EMGN’s CEOs and success stories, featuring:
- Taoufiq Lahrach, Deputy CEO, TAMWILCOM
- Adnan Naji, Director General, Jordan Loan Guarantee Corporation
- Homam Hashem, CEO, Kafalah
The session concluded with the presentation of the “ILO Think Impact Toolkit for Guarantee Instruments” by Tomoka Omoto, Officer in Sustainable Investing and Just Transition Financing at the International Labour Organization (ILO).
Session 2: Mainstreaming Local Credit Guarantees – Perspectives from Stakeholders
The second session focused on perspectives from lenders and investors on expanding the outreach of Credit Guarantee Schemes (CGS) and their role in climate change initiatives. Panelists discussed the significance of guarantee mechanisms, the challenges faced, and opportunities for enhancing their impact. Speakers:
- Nabil Badr, Deputy Head of Banking Supervision, Bank Al-Maghrib
- Nejia Gharbi, Director General, Caisse des Dépôts et Consignations (CDC), Vice President, MED Confederation
- Panagiotis Tournavitis, CEO, Cooperative Bank of Karditsa
- Tarik Haddi, CEO, Azur Innovation Fund
The session was moderated by Roger Albinyana, Managing Director of IEMed.
Session 3: Perspectives from International Financial Institutions and Multilateral Donors
The third and final session, “Mainstreaming Local Credit Guarantees: Perspectives from International Financial Institutions (IFIs) and Multilateral Donors”, examined how international organizations could integrate Mediterranean Credit Guarantee Schemes (CGS) into their operations. Discussions revolved around economic development, green finance integration, and funding opportunities for regional schemes.
Moderated by Nagla Bahr, EMGN Lead Representative and Executive Board Member of CGC Credit Guarantee Company – Egypt, the panel featured:
- Janne Rajpar, Office Director in Morocco, KfW Development Bank
- Houda Zinoun, Senior Investment Officer, Financial Institutions Group, International Finance Corporation (IFC)
- Fadwa Bennani, Senior Financial Sector Specialist, The World Bank
- Ismail Mahamoud, Principal Investment Officer, African Development Bank
- Lamiae Derraji, Principal Banker – Financial Institutions, EBRD
- Adrien de Bassompierre, Head of EIB Representation in Morocco, European Investment Bank (EIB)
The EMGN 5th Annual Conference concluded with closing remarks by Nagla Bahr and Chris De Noose, President of the MED Confederation, marking the end of a successful event aimed at strengthening credit guarantee mechanisms and enhancing SME access to finance across the Mediterranean region.
After the end of the Annual Conference, EMGN members were invited to attend the Steering Committee meeting of the Network.
Prof. Ayadi’s speech at the 5th Annual Conference “Guaranteeing the Future: Empowering Skills for Resilient Finance in the Euro-Mediterranean” is available here.
