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IFC Emphasizes Importance of Cooperation with Morocco

Cheick Oumar Sylla, regional director for the International Finance Corporation (IFC) for North Africa and Horn of Africa emphasized the importance of cooperation with Morocco, describing it as a strategic country.

 “The Kingdom is a true innovation laboratory for IFC, completing over 25 pioneering transactions, many of which have been replicated in other African countries and regions,” he said.

 Sylla also discussed ongoing IFC-funded projects in Morocco and reiterated its commitment to supporting the North African country in achieving its goals within the framework of the Kingdom’s new development model.

 “For six decades, IFC has been supporting the growth of the private sector in Morocco through investments and advisory services,” the IFC regional director said, noting that the institution also supports Morocco's effort to achieve its development objectives.

 He said the IFC is planning to develop projects by focusing on financing for local communities to reduce infrastructure disparities across Morocco.

 Other initiatives, meanwhile, will focus on public enterprises, taking into account the much-needed transition to ecological practices and decarbonization plans.

 Sylla also addressed the IFC’s activities, covering different pillars, including green and inclusive growth, regional development through regional infrastructure projects, and in addition to the development of Moroccan companies on the African continent.

 “For several years, we have been assisting major Moroccan banks in Africa, especially in financing small and medium-sized enterprises, particularly in the financial and manufacturing sectors,” he concluded.


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