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Morocco Aims to Strengthen Economic Growth through Enhanced Collaboration with International Finance Corporation
Moroccan Minister of Economy and Finance, Nadia Fettah, held a pivotal meeting on Monday with a high-ranking official from the International Finance Corporation (IFC), emphasizing the importance of bolstering cooperation to support Moroccan companies and propel economic development in the Kingdom.
Welcoming Cheick-Oumar Sylla, the IFC Director for North Africa and the Horn of Africa, to Rabat, Minister Fettah delved into discussions surrounding significant joint ventures and the IFC's extensive history of guidance aimed at fostering Morocco's private sector over the past six decades.
During the meeting, Minister Nadia Fettah highlighted the pivotal role the IFC could play in supporting Morocco's infrastructure enhancements, particularly in preparation for major upcoming sporting events. These improvements encompass areas such as ports, airports, railways, water desalination, and digital technologies. She urged the institution to expand its support for other major national projects, leveraging its expertise in public-private partnerships.
"Morocco aims to leverage the industry knowledge of the IFC to catalyze financing and investments crucial for sustained economic growth," stated Minister Nadia Fettah.
In response, Cheick-Oumar Sylla, currently on a visit to Morocco from January 29 to February 2, reiterated the IFC's unwavering commitment to supporting the Kingdom's development endeavors. This support spans capital investments for small and medium-sized enterprises, renewable energy initiatives, infrastructure projects, and fostering regional growth.
The strategic discussions between the two officials follow a memorandum of understanding inked between Morocco and the IFC in June 2021, aimed at solidifying their collaborative framework.