Casablanca, Morocco, October 7,
2019—IFC, a member of the World Bank Group, signed an agreement today
to partner with the General Confederation of Enterprises in Morocco (CGEM),
the country’s leading business association, to help boost private sector
development in the country.
The agreement covers four key areas.
They include establishing a policy dialogue platform to support key reforms
for the private sector; promoting healthy and fair competition framework;
increasing the employability of women in the private sector; and collaborating
on Moroccan private sector’s participation in preparation for the IMF
and World Bank Group annual meetings in Marrakech in 2021.
"We welcome the cooperation between
CGEM and IFC," said Ms Nabila Freidji, Vice-President of CGEM, head
of International and Institutional Relations. "This partnership strengthens
the visions and the programs of our two institutions for the economic development
of Morocco and its private sector, as defined, on one hand in the World
Bank Group 2019-2023 strategic partnership framework for Morocco, and on
the other by the 2018-2021 CGEM roadmap, which is focused on the development
of businesses of all sizes, and on job creation focusing on youth and women."
“This partnership will strengthen the
dialogue between the CGEM and the World Bank Group at the national level
to develop the private sector said Xavier Reille, IFC Regional Manager
for the Maghreb. “The Annual Meetings in Marrakech in 2021 also provide
an opportunity for Moroccan firms to showcase their know-how to a global
The General Confederation of Moroccan
Enterprises represents the private sector in discussions with public authorities
and government institutions. It speaks on behalf of its 88,000 affiliated
members and advocates for a conducive business environment for the private
sector. Since its creation in 1947, CGEM has been representing and promoting
member companies operating in different sectors. CGEM's actions are based
on credibility, efficiency, and solidarity with its members.
IFC—a sister organization of the World
Bank and member of the World Bank Group—is the largest global development
institution focused on the private sector in emerging markets. We work
with more than 2,000 businesses worldwide, using our capital, expertise,
and influence to create markets and opportunities where they are needed
most. In fiscal year 2019, we delivered more than $19 billion in long-term
financing for developing countries, leveraging the power of the private
sector to end extreme poverty and boost shared prosperity. For more information,