Rabat, Morocco, May 9, 2019—IFC,
a member of the World Bank Group, is providing a €14 million loan to KMR
Holding Pédagogique (KMR), a leading pan-african higher education provider,
to expand medical training in Morocco and Senegal and to increase the number
of health professionals in both countries.
KMR will use the financing to set up
Morocco’s first private medical faculty at the Université Privée de Marrakech,
one of the country’s leading private universities. KMR will also
expand the Saint Christopher Iba Mar Diop University of Medicine in Dakar,
Senegal. Among other work, the school will build a 250-bed student dormitory.
The financing is expected to help increase the number of physicians and
health professionals in Morocco and Senegal, where there is a severe shortage
“The investment from IFC will help
us grow into a leading pan-African education player, particularly in the
healthcare,” said Mohamed Kabbadj, founder and CEO of KMR. “It
will also help up address fundamental educational issues, such as affordability
IFC’s financing is designed to support
the growth of tertiary private educators in Morocco and Senegal, easing
pressure on over-burdened public universities and supporting programs that
prepare students to work in a fast-changing economy.
“IFC supports higher education providers
to help provide the job market with highly skilled youth,” said Xavier
Reille, IFC Maghreb Country Manager. “Tertiary education is a strategic
priority for IFC in Morocco, where we want to support Moroccan education
champions to bring new and innovative private sector solutions to improve
access to education and employability.”
As part of the project, IFC will advise
KMR on environmental, social, and governance issues, helping the company
to follow international best practices.
The project is part of IFC’s strategy
in Morocco to help strengthen human capital development, bring private
sector innovation into tertiary education, and support regional integration.
Since 2010, IFC has committed $125 million
to education projects in the Middle East and Africa.
KMR Holding Pedagogique is a leading
state-recognized multi-disciplinary private higher education platform in
Francophone Africa with over 8,000 students across state-of-the-art campuses
in Casablanca, Marrakech, and Dakar. KMR Holding Pedagogique owns and operates
UPM, one of Morocco’s leading private universities, which is accredited
by the Moroccan state. UPM acquired from Laureate International Universities
a private university in Casablanca, Université Internationale de Casablanca
in 2018, also accredited as a private university by the Ministry of Education.
In 2015, KMR acquired Saint Christopher Iba Mar Diop (SCIMD) in Dakar,
a leading medical university with more than 1,400 students from 21 African
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 in the toughest areas
of the world. In fiscal year 2018, we delivered more than $23 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, visit www.ifc.org