With the assistance of a multi-donor trust fund, World Band and the British Council signed a Memorandum of Understanding (MOU) involving $330,000 US in September 2014.
This agreement has allowed the partners to support the development of social enterprises in Morocco and launch a new incubation programme for social entrepreneurs.
The Social Enterprise Competition, launched for the first time in Morocco under the theme" Provision of Employment and Inclusion Services for Youth in Morocco", was for young people between 18 and 35 years owning a non-profit organisation, a business or applying as an individual or group of individuals located in Rabat and Casablanca regions.
The 30 short-listed finalists benefited from five days intensive training in social enterprise delivered by UK experts to enhance their skills and develop their business plan before a final pitching session in front of a panel of judges.
The ten winners received a prize of USD 10,000 to build a sustainable social enterprise and to create a positive social change in their community. They will benefit from a considerable mentoring and coaching delivered by a team of UK experts in social enterprise during 6 month.
Diego F. Angel-Urdinola, Senior Economist at the World Bank says "We have excellent relationships with the British Council and regard their expertise and implementation capacity very highly. We looking forward to continuing to work in close collaboration with them to further develop and promote the social enterprise agenda in Morocco”.